The drawing you see has two 45 degree angles from which gann fanns must form.
The first is from the ATH downwards and the second is where the 45 degree of the ATH hits with the base level of the bull run if a 45 degree angle was drawn from that point.
This does not indicate a bottom but helps find them. In this case there are 3 45 degree angles drawn from each...
BTC pierced its support on the bluetrendline drawn above. it is no longer valid and will send us down to the next confirmed trendline which is in the 4k-5k range depending on when we reach it. this is the trendline to watch as it is the trend started before parabolic moves.
it may go up to 6900 and maybe even 7400. this chart is not invalidated until BTC crosses...
Just a test of Cyphers for myself-
B wave crossed over the .618 retrace putting it in range for a .78 but turned down.
I am guessing the end of C wave at this point to be 7980 at the pivot point of the previous uptrend line
will update targets of cypher downwards when/if D is completed.
Litecoin is moving slower than Bitcoin at this point. It has fallen all the way down to its support and is lulling there.
If Bitcoin takes off and leaves LTC behind and we fall out of this channel it will be worth it to open a short.
Probable outcome shows moving averages breaking out of this current steep triangle we have formed and will cause LTC to shoot up...
Bitcoin has been moving rapidly up the blue channel. It is desperately in need of a pullback to reset the indicators and we have finally seen a dip from 9.9k to 9.1k atm which will continue to dip over the next 20 hours as we bounce off 9k. If we break 9k it will be brief but this chart may be invalidated and will put us in the orange channel. a Flashcrash could...
Litecoin is overbought on 4h RSI and is fast approaching its first support. It is likely Litecoin will stay behind as BTC rockets forwards and catches up later.
Bitcoin is in a no trade zone until it hits 9500 or 7800- as in the current weather of crypto I am opting to stay in the market but go between the king and alts.
Heres a roadmap for Litecoin that I plan...
Bitcoin is currently sitting right on the inside of the Log chart uptrend formed from last year. At the end of this month both the Log chart uptrend and the downtrend channel from November will converge and end.
Many are suspecting a downward trend, and some an uptrend.
Here is the support for the uptrend.
This is speculative and not trading advice.
BTC has broken from its downtrend channel and is currently dipping down to retest it as a resistance. If it succeeds and bounces we will go upwards to 11,700 with almost no stop then further upwards to 13+
If BTC fails to hold the channel at 10,200 then we will drop below the pyschological level of 10,000 and we will rest on our last support of 9400 ish.
BTC 4h has not met any sell signals as of yet! small dips may occur on the 1 hour but the bollinger band is actually acting as resistance as it propels BTC to the top of the band on the 4H.
Now the trouble here is that our current ascending chart is projecting to hit the top of the RSI and the top of the band right at 10,475 to 10,550 which is also right where...
LTC 1 Hour sits in the middle of the bollinger band moving downwards and almost at the bottom of Stoch RSI. when it reaches that zone 2 indicators will be live for a buy signal around 208- 212 zone.
LTC remains overbought on the 4 hour, this dip should bring back momentum and is healthy.
Resistance at 10,550 correlates with 200 MA on 1 hour chart. watch this closely as it could be a reversal but will likely shape another Inverted Head and Shoulders if it hits.
I drew in these arrows yesterday around 10,000 on its way down.
Not meant for trading advice but a solid number above 10600 will move to over 11. If we break the channel at 11 for 4...
So here we are. this is my hypothetical opinion of BTC based on patterns and noted resistance levels. With this sharp ascending wedge we have actually formed an incredibly large start of an inverted head and shoulders with a 11,000 span.
BTC has broken from its downtrend channel and begun to move upwards in a large ascending wedge.
Those desperate for another...
Triangle formed that could break positive or negative. first resistance negative would be about 215 while stronger resistance and buy signal would be supported at 204 from the shoulders of the previous Inverted H & S.
A positive break would likely send it above the channel back on track to hit 247 and have very little resistance on its way to 300.