Typically descending triangles are bearish distribution patterns but sometimes they break to the upside. Typically the volume will decrease as the pattern gets closer to the apex and generally you'll see a decline in the RSI but you can see that ICP has increasing volume as we get closer to the apex, plus there is bullish divergence on the daily RSI. The money...
It is pretty evident that Chainlink has been in an ascending channel for its entire lifespan. So check out these interesting observations. Taking a fib retracement from the ATH of June 29th, 2019 back to the low of December 7th, 2018 provides us with the next ATH at the 4.236 on August 17th, 2020 (156 days from the recent low). If we simply use the ATH in...
In a world where people predict a $25,000 Ether and $300,000+ Bitcoin there exists a $985 Chainlink. This price per Link would give it a market cap of around 450 billion. I arrived at this number by creating a channel for link and plotting some major lines of support and resistance. I took a fractal from late April/early Mary of 2019 which looks very similar to...
My idea is based on the assumption that the price of MATIC is on an ascending channel and will hit the top of that channel by the end of the year. Having plotted some significant lines of resistance and support alongside a fib retracement that goes from the ATH to the ATL (Nov 2020) I am attempting to show a realistic blow-off top scenario to $15.50 for MATIC by...
It appears that ICP could be in ascending channel. With that as my thesis I charted major lines of support and resistance and combined it with a fib retracement from the recent high to the major low in July. A blowoff top in December could have the price hit the 3.618 at about $250. I say this is conservative because FOMO could really hit hard and who knows how...