IF BTC and ETH continue to rally, MATIC might see a huge increase towards the 2.7$ mark (previous all time high)
On shorter timeframes, a reverse H&S can indicate the price can move up to 1.7$ which would complete the larger time frame cup and handle.
The bullish target for the cup and handle would be 2.7$
It seems Bitcoin is running out of fuel to break out of the grip of the bears.
If the price would hit the blue zone in the next days, we're still in the same overal trend trying to break through the 10200 and 11K resistances.
If it doesn't we're prolly entering a new bearish trend which could lead us back to 6K and even lower depending on selling volume and the...
Trying to do some TA on long term.
Big pink triangle: mapped high and low for the past year.
A,B,C,D: resistance lines created by the highs during the correction.
Delta start - current: the different in the trend from the start of the correction until the point of creating this idea.
Drop: area where the correction would be greater than the current delta. this...
For the FOMO-sufferers who just saw LTC spike, I can't guarantee there will be another opportunity to buy at lower prices, but I've spotted some behavioral patterns.
WAVE 1:
Top: 173
Bottom: 106
Price: 145
difference (top - bottom) = 67
top to price = ~ 42%
bottom to price = ~ 58%
WAVE 2:
Top: 169
Bottom: 141
price: 157
Difference (top - bottom) = 28
top to...
Looking for possible short term trades to ride this correction.
looking at the current levels it might still be profitable to get in with a stop loss around 138. If it breaks past that point I think we're dropping to 125.
on the possitive side, if we're going back up we're looking at possible gains up to 180 if the crypto market tends to become bullish .
Else...
Judging from the MACD and momentum of the last gains I'm expecting the price to go down in the next hours.
If point B holds, we might bounce back to somewhere in the sell-off area. From there I expect we'll retest the 7200 support (61% Fib from 6000 to current level).
If point B breaks, I except we'll go right for the 7200 support.
If the 7200 support line fails...
Looks like we're forming a head and shoulders pattern thanks to a huge buying volume.
Unfortunately that volume was only short term, so I wouldn't count on it to support the trend.
If the price stays above 1225 for the next 3-4 hours we might see the inverse H&S pattern, else I expect a partial sell-off (of the spiked volume) and the price will probably drop to...
Currently we're having trouble breaking the 8300 resistance barrier.
I believe 12.00h-14.00h will be a crucial time where we'll either find support around 7800 (pink) before following the trend up or break down from the 7800 mark.
(green) If we can hold the 7800 and break through the 8300 resistance, I expect a breakout to 9300,
(blue) If we can hold the 7800...
