2018 we went stagnant at $6,000 - $6,400 range. We had an exit pump before correcting nearly exactly 50% and finding a bottom at $3,200 on most exchanges.
We're currently stagnant again at $10,000 to $10,300. We're coming to the end of a meme triangle just like 2018.
If we fall, and do happen to reach this marked area, it marks 50% correction. BTFD.
Breaking $BTC down into quarters..
Q1 ~ Alts ran all of quite impressively from New Years Eve pretty much until April 1st.
Q2 ~ Literally day 1 of Q2 we mooned, and found the top at the end of it.
Q3 ~ We're here now, Is this re accumulation or distribution? BAKKT launches in two weeks just before Q4.
Q4 ~ What do we think is going to happen?
Triangle is real.
Low sat coin, so stops hurt to get right.
Acquire: 145 - 149
Fibs: 154 > 156 > 166 > 177 > 204 > 218 > 238
Triangle Target: 237
12HR 200MA: 185
Pivots: 157 > 179 > 195 > 210 > 225
Stop loss @ or under 138
This is probably the best looking alt right...
We're either on the brink of an Alt Season with BTC.D capping out at the 200MA weekly, or we're about to start creating a trading range. (or just another bearish retest before dropping lower - trade what is, not what you want it to be.)
Trading Range Entries/Exits:
Lowest Red Range = TP1
Highest Red Range = TP2
Lowest Green Range = Accumulate in/above.
Broadening Descending Wedge Pattern played out, target could be classed as reached.
Now, we've got a steep rising wedge, 200W MA and 61.8% from 0.1 to 100% dominance as resistance in the coming week/s.
Will this grant an alt season like the 100W MA did?
Target is 71.6%
Will we see pure capitulation on Alts over the next few weeks? or will they sit sideways? Bitcoin Dominance doesn't appear to be finished.
I'm ready to buy the f*cking dip. My eyes are on $IOTA and $AGI.
The charts never lie..
Conflict between the West and Iran is brewing.. German jets go down an the media spit out instantly that two high tech military planes crashed into each other (yeah fucking right).. as certain parts of the internet go down (cloudflare and other services). Oil attack after Oil attack.. Digital attacks on Iran already targeting military...
Check this out
I've labelled everything for you so you can easily understand it.
We've got a wedge in price, which just means higher lows (green circles) and lower highs (blue circles) since we reached $9,100.
And from our previous run up to even get to this level has left it's own trend line (yellow circles).