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ICX testing the top of the bull wedge now, we will reject here, drop down and test the bottom before breaking out.
Buy zone - 0.0002950 - 0.0003050
Target 2: 0.0003500
Target 3: 0.0003600
Target 4: 0.0003900
Target 5: 0.0004200
Stop loss: 0.0002800
Alright wolves, I am still 100% bearish here and solidly believe we will reach 6k before recovering. However, how we will get to that 6k double bottom is what we are discussing today.
Lets jump in - As you can see I have mapped out 2 routes for BTC on this chart, each relying on the direction the current bull flag that we have formed will break.
Route 1 - If...
Alright wolves, although we didn't quite reach the 6400 support, everything seems to be going as predicted - a bounce back up to the 7k mark to test the long term descending triangle resistance, the higher lows I have marked with the black arrows would suggest bullish, however, the lack of volume wont be enough to get us over the line. IMO a rejection down to...
Short coming along nicely wolves, after a lengthy battle between bear and bull, the bears have come out on top with BTC breaking down from the bear flag as predicted and now testing the 6550 support, going to move the stop loss up here and take some profit, next targets are 6400, 6250, 6000.
Head and shoulders has broken up, could see it test the long term wedge if we can pick up in volume. With Cobinhood listing coming today we could see this give us the fresh volume needed.
BTC found support at 6550 and bounced a little earlier than expected, I still believe we need to retrace to at least the 6400 wedge support (possibly to 6000) before we have a shot at breaking this long term downtrend.
We now have a bull flag forming on the 1H MACD just crossed bull, RSI also bull. We might see a bounce back up to around 7k - this just seems to...
LTC/BTC looks to be moving down the trend channel here wolves, Bear flag forming on the 1h, easy pickings for a short.
Stop Loss: 0.0178
Move stop loss up to entry point once T1 has been hit.
ETH/BTC looks ready for a break out - watching this one closely, testing the wedge resistance as we speak, solid long opportunity if break the wedge and consolidate at 0.056. Possible repeat of previous wave (highlighted).
Alright wolves, we broke the fib support briefly but recovered quite fast, it seems to be holding up for now and we are forming a bear flag.
From here we will see some more sideways movement before breaking down to the 6400 long term wedge support (RSI and MACD both reading bear) We will then bounce up and test the descending triangle resistance once more at...
If we zoom out to the 1D chart, you can see we have just been rejected from the descending triangle resistance (red) once again, if we break the 0.618 fib support we are headed back to the longterm wedge support at 6400 (yellow), next support is double bottom at 5900 (green), then 5400 historic support (purple) and worst case the bottom of the descending triangle...