The blue and green lines are based off of regression lines drawn from LLs and LHs. its interesting that they almost perfectly parallel and perpendicular. Purple is my best prediction of whats going to happen. Orange Line is regression line from ATH to today, which runs parallel to the need trend line that emerged after this last local high.
I think that red...
Looks like the main trendline may be breaking down. I can see a bounce happening up to around 6900-7000 before more retracement down to 5806 or 4755 before breaking out of the descending wedge being formed
First, I've never seen anyone do a chart like this, and maybe theres good reason. A linear regression should provide a logical trend line. Also, I like to do things a little differently to provide a different perspective that may be helpful.
Looks still in a bear trend, but were inching out of it. Each downtrend has shown less regression. Bulls should hope that...
(1) Large descending wedge (red & light red) - bullish
(2) Important buy lines (green and white) going back to first break out of supply line 1 which could break us out of supply line 2
(3) Green support line broke previous descending wedge - lets see if it can happen again
Thats a nasty HNS (not shown) forming thatll break us out of the ascending wedge. Two negatives dont make a positive though.
I think it retests the accumulation zone (shown as green parallel). Either way, I dont think this is worth a hold right now. Bulls have gotten rejected by that supply (red parallels) line several times (about 4x on daily).
The only real...
Notice how in each of these channels, the bottom line breaks after the third touch (or shortly after). The same should probably happen again here. I think could be potentially explosive as its hung out in this accumulation zone between 6.2 and 7.5 for several weeks now.
I think this could potentially ride up to about 7.9k-8 in this channel before coming back...
Would you take a look at that beauty?
One of the few coins thats actually being used for something backed by the most legit and transparent exchange. Whats not to like here?
Combine this with the binance DEX expected for this year, this coin is going to be a big winner for 2018.
I dont want to place bets, but I think this is a conservative 10x for the year.
First off, i know thats not how pitchforks are technically used, but its the easiest way to draw a lot of parallel lines.
Using the 233 MA for the areas shown. Blue is over 233 MA, orange is below.
If it continues to follow '13-'14, then we should go up to about 11k before coming back down.
Where I divert, is that I dont (want to) believe we will see 3k...
Firstly, BTC is king and sets the tone for the market, and I dont think were in the clear yet. Too many similarities (the fractals are remarkable) between November 2013 through 2014 to where we are today. I think we are where BTC was in late May of 2014 right now. That being said, enjoy alt season while it last.
WTC looks like it may break out in the 4-5 days....
ZEC appears to be breaking through this huge descending triangle.
Everytime RSI has gone over about 58 (see historical blue line), the price has exploded. Right now its peaking above it on the daily chart.
I dont see whats not to like here.
MTL is moonbound
Once RSi breaks over about 58, i expect it to pop. OBV is breaking the doward trend.
This set up is really nice, and I cant find any others quite like it, since this one mooned before last alt season.