Channel price action following a nice rising trend accompanied with BTC just recent break through of the previous high. As well we are seeing BTC dominance making lower lows which is great news for the overall crypto market. Lets hope it holds.
good broadening wedge opening up. retest and break out coming.
After breaking our current rising trend line we are seeing what I think as a healthy pull back into our previous resistance zone now hopefully turning into support. A bullish sign would be breaking our continuous downward trend, which I think will happen at about the 36,500 zone. We can assume this will happen hence the cross over our middle band onto our lower BB...
if we are at a bottom as is btc holds its 29-30k support we can assume to see a bounce at some point in the coming weeks.
No real analysis behind this but ever since we saw that giant reversal to 1.50 than a crash to .20 and flatten out ive always had hopes we were making a giant cup and handle on the higher time frames. i mean it isn't out of the possibility right??!
Chart says it all. still in a triangle pattern, needing to break disjoint channel. BTC needs to hold its current support for this to stay valid though.
moving sideways to finish wedge pattern, MACD shows bullish crossover. short term prediction on fib levels
1. reversal pattern flashed at peak. 2. followed by 50% drop. 3. retrace back to 80% from peak. 4. followed by another to 30% from peak. 5. eventually bottomed at 15% from peak. currently should follow step 3 now ps: btc is following this same pattern from 13-17 bull/bear run steps seem to follow btc minus the continuous head and shoulder patterens
1. reversal pattern flashed at peak. 2. followed by 50% drop. 3. retrace back to 80% from peak. 4. followed by another to 30% from peak. 5. eventually bottomed at 15% from peak. Recovery from bear market 2 years, same as 2013-2017 pattern. this only holds true if we continue to close below 31k same chart as earlier, follow this prediction! following exact...
1. reversal pattern flashed at peak. 2. followed by 50% drop. 3. retrace back to 80% from peak. 4. followed by another to 30% from peak. 5. eventually bottomed at 15% from peak. Recovery from bear market 2 years, same as 2013-2017 pattern. this only holds true if we continue to close below 31k
RSI shows we are at a bottom. so with that said we made a higher low and now setting up for a higher high. Gan pitch should give a rough estimate of the movement for the coming days. this only stays valid if we continue to close above are previous low. otherwise wed have a double bottom, which could mean a set up to drop.
-lot of mixed signals from indicators but a few that are promising .5 fib matches are avg. .5 fib was traced from our ATH and the most recent wave of MAY
GanFan and fib tracements from several different lows and highs those are the ones that lined up.
the fact that these fib levels are matching up is a good sign showing us the chart is somewhat acting in a predictable manner. sellers have had their run, good push of vol. will put us right at that key resistance level