Falling wedge is formed.
However, The market is highly volatile and fake break out is continuously happening.
Be sure to not to be fooled by false breakout.
Make sure to set a stop order at the bottom of the pattern.
If the price break out to the bottom, There will be a bloodbath.
Make sure to set a stop order, consider there will be a false break out...
BTC is moving in the channel and it is slowing down a bit around the upper side of the channel.
It is uncertain if it breaks out to the upside to enter the main trend channel.
However, MFI isn't so supportive to make that happen.
If channel break, It would reach 7K level, I have drawn it on my chart.
I don't have a position for BTC for now, but if it breaks...
XRPBTC is continuously falling for long time and finally found the bottom of it.
It formed Diamond bottom pattern which indicates strong trend reversal.
Stochastic and RSI is also showing divergence.
Also BTC.D - Bitcoin Dominance is also at the previous top level.
So we have at least 4 evidences backing up the idea.
However, Satoshi market is highly...
For the short term, The MFI divergence is showing strong bull signal but in the long term, It is ready to fall below 60 USD.
The Possible Accumulation Zone is where you should close the short position and make long orders.
LTC will hit around 84 in a week.
It is a sad moment for altcoin buyers.
While the bitcoin is dashing forward, Altcoin is having a hard time to even stay still.
However, XRPUSD is seemingly forming the Falling Wedge pattern, Which is one of the major reversal pattern.
In the bigger picture, XPRUSD is making Flag pattern and the pole is enormous. we can expect 0.6 for the next target.
Downward momentum is slowing down
And in the short time frame, It is moving in a channel.
The green line on the bottom acts as a strong support line and the trend doesn't have enough power to break it just yet.
MFI is breaking the resistance line and We can expect short term rebound.
It will hit the resistance line which previously formed rising wedge...
ETH is in a dangerous zone.
It seems it already break the support line and the only way left is the downside
Watch the red wedge pattern, It breaks out the wedge pattern with upside movement
but as BTC is wavering around the support line, ETH seems to reach the ceiling.
This specific wedge pattern breakout is called "overthrow"
I am seeing it as a great...
RISING WEDGE is formed. Volume is also Declining.
Most importantly, the price gets higher, but the MFI is falling.
This MFI divergence indicates future bearish movement of BTC.
HOWEVER, The great trend has been changed to uptrend, So, Fear not.