Ready to pop! Squeezing into the tip of the falling wedge, touched the retracement level at 15 SAT. Anything between 15 and 17 should be decent entry. First targets would be previous highs, after that just let it ride and don't forget to take profits along the way!
Good luck!
On larger scale three times bounced off of resistance line. Recent formation confirmed double top with neckline support becoming resistance and turning down again. Expected target fits with triangle support line at 7500-7800 USD and then possible third bounce from support and fourth test of resistance which should result in breakout...
Apologies for the messy chart, but tried to include everything that's pointing towards the next target.
1. Inverse H&S: Distance from head to neckline equals extension target from right shoulder neckline upwards. Target roughly 17.8k
2. Elliot wave 3: Fibonacci extension of 1.618 times wave1 gives target of about 18.5k.
(I would expect the next target to be...
Inverted H&S almost complete with retracement target at roughly 12.2k USD. Target calculated by comparing distance from head to neckline and distance of right shoulder neckline upwards, additionally it fits in line with starting point of the H&S dip.
At that point a good selling point for people that bought the dip at 6k for a 100% profit. A correction can be...
In the middle of forming the perfect cup&handle came the news of Bittrex delisting. That was due to some compliance issues where the dev team decided to go for an airdrop, but unfortunately they have not notified Bittrex of the same. As a result there is a lot of FUD and panic, but also an amazing opportunity to fill your bags at an extra-low price. The overall...
Correction wave 2 dropped to exactly 50% of wave 1 (wave 2 by the books). There was breakout 5 hours ago due to announcement of hardfork, but got dumped back fast. I believe it will continue with organic growth towards 1550 SAT mark which is end of wave 3 at 1.618 of wave 1. That should be target 1 if you want to take profits there during wave 4 then you can. Or...
Observing how BTC loves H&S formations you can never put too many of them in the chart. :) I'd like to hope that the dip is over and we can go on with our lives, but many TA I've seen and articles I've read mention that 8k target. Could still be valid and considering CME contract end on 26th this could be a plausible move. Happy surfing!
