Break of parabolic curve looks like it could signal bearish reversal, similar formation on RSI stands out to me as a severe trade with caution indicator right now - let me know your thoughts, been enjoying the ride on this but after nearly liquidating today had another look & this stood out.
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Zil has been following this uptrend & printing lower lows for around 14 months, we saw a huge parabolic run up to 280sats in June 2020 followed by the breakout of a 7 month long bull flag which saw us print a higher high of 330sats.
It seems like we've now found a strong support at just above 160sats & looks geared to make another move very soon if it continues...
Not to get too excited but if history repeats we'll see 18k in the next two weeks, first move occurred over 120 days with 150% gains, second move took 40 days with 125% gains, third could be 100% over 13 days.
Last RSI bounce at 40 & MACD Bull cross at 50 occurred at the beginning of the first move, let me know your thoughts.
I see a healthy correction after near 100% gains from parabolic movement from last trend line bounce (7500 - 14000), heading back to 9500 would be nothing unusual here (25 - 30% correction) before resuming uptrend.
Don't forget the 2017 bull market saw corrections of near 40%, I can't imagine we break ATH's without this.
Let me know what you think below.
Bollinger Bands started expanding on the 10th of the month, exactly 6 months apart from each other, dip also began one month exactly later on the 7th of the next month, one week later the road to 20k began, potential coincidence but in such a manipulated market I don't see it.
IF this is a fractal, today would be the last of a shake out before a massive bull run...
Smashed through the first channel very recently, looking at a retest of it's top around at around 900 sats (would be a good idea to fill your bags here) then potentially some accumulation before taking off to 1300 sats
Hi, first publish here hopefully alot more to come.
Now we're solid in the continuation pattern from pre November I'm expecting bullish movement sooner than most are expecting. I've noticed recently people seem to be over complicating TA in Crypto & haven't seen a decent chart predict any movements for a while... due to this I'm here with simple, effective TA and...
