As I see it now I expect a scenario like this.
First taking some more liquidity on the upside before a massive drop towards low 30K region. Where we will probably find a bottom.
We are behaving in a bigger range between 38K and 33K. We swept the highs, next is a sweep of the lows before a massive bullish breakout.
From now on I will regularly post intraday scalp on BTC and ETH. Last months I practiced a new trading style with decent results so far. Low risk high reward is key.
I will not provide to much detail how I come to these entry targets. Just watch them play out.
IF the long entry triggers first, remove the short entry!
Herby my updated analysis for the $GLCH price.
I think there is a decent change that we are forming a bottom right now, since we hold support on the first. trend line.
If somehow this trend line breaks, then a move to the lower trend line is very likely.
The trendines are getting steeper which indicates we're entering the parabola phase!
Targets for the...
$ICX is currently forming a huge C&H pattern. A breakout of the pattern should result in new highs and ultimately new ATH's.
The targets are the red boxes (based on fib extensions).
My previous model on $GCH is broken, this model only looked at linear data. Since most of the moves in crypto are exponential most of the times. It could be better to take the LOG chart in consideration...
In this chart potential upside and downside is greater.
The support band of the LOG chart shows a potential bottom between $0.47 - $0.40.
I expect a last tab into the green support band before we really take off. This would be a test of $0.73 (previous resistance). Continued with a love towards $1.24 and $1.75.
The $1.24 level will not be that huge resistance since it's not in the red resistance curve.
BTC is forming a big H&S pattern. A breakout above 53K would validate a breakout upwards and we could see a target of 78.5K!
Note: Double confluence at the 78.5K, 1.382 fib. level + H&S target.
GLCH is forming a double bottom on the GLCHETH chart. The measured target is 0.00096ETH ($3.2 current ETH evaluation)
Target 2: 0.0012ETH (+-$4)
Target 3: 0.0017ETH (+-$5.7)
These $ targets are relative, calculated with an ETH price of $3350. If the ETH price rices as well these $ target will be much higher...
$PMON is currently in a falling wedge and is set to breakout soon. First target will be the 0.618fib ($19), afterwards a mover towards the projected red resistance box ($35).
small target 1: $19
Big target 1: $35
Big target 2: $50
Probably still to bearish...
In this chart I show my expectations for $GLCH based on fib level and oversold/ overbought zones.
Red curve = overbought, we see a retranchement every time we get into this zone.
Green curve = accumulation, we get a pump every time we reach this zone.
First target around $1.25.
Target 2: $1.75
Target 3: $2.25
This chart will be updated once we go further in the cycle.
A big move for $BTC is coming.
Will we follow the green scenario or the red one??
A breakout of the falling wedge (green) will likely result in new ATH and a continuation of the bull trend.
If we however breakdown of the falling wede a close below 37K, expect a big move down! We will go towards previous lows at 29K and changes are high of...
- 1H timeframe = Bullish
- 4H timerframe = Bearish
- Break of 1H resistance check
- High Volume move check
Entry = 109.221
StopLoss = 108.867
TP = 110.047
RRR = 2.33
Invalidation of trade when we make new highs before reaching the entry.