HodlSimp

HodlSimp

Within a 48 hour window, Cardano will reach the apex of the descending wedge, high probability of breakout to All Time Highs.

HodlSimp

Though the recent trend is positive the macd histogram is telling a different story. Hidden bearish divergence on the brink of playing out.

HodlSimp

If we get confirmation with a solid neckline break at around 60k, look out for the rocket ship to 75k.

HodlSimp

After completion of the bearish harmonic, trend reversal (at least short term) is imminent. Much of the reversal has already happened as of publishing this idea. However, I feel we still have plenty of downside potential until bulls really have an edge to re-enter. See the chart for targets at the fib nodes of 0.5, 0.618, and 0.786 for possible areas of re-entry.

HodlSimp

Target just north of 62k for bitcoin before a pullback

HodlSimp

Down to C we go. Then bounce at approx 39k.

HodlSimp Updated 

Purely undeveloped yet, but based on the descending triangle (purple) and the mini descending triangle (red), we may be forming a bearish cypher (green harmonic). This could bring us to around 52k in the interim before a continuation of the downtrend to around 39k, and ultimately a rebound to 55k before the end of the structure. Another thing to note is the...

HodlSimp

Once the negative momo subsides on macd, the channel range will bring bitcoin back to mid 55000 as long as we stay in the channel . Bulls will retake the ball and it will have been a giant bear trap in the end.

HodlSimp

The ascending broadening wedge has held perfectly during the recent surge past 58k and the normal correction to 46K. Bounced off the demand line like magic. TA working as it should! From here, we continue to stay bounded by the ascending broadening wedge and the bull run is intact. When 60K?