Hello guys, as you can see in my post we are slowly building a triangle pattern again.
We are currently dipping below the EMA 25 (green line) and price ranges between 25 & 50 EMA. (50 is the yellow line)
Last time we dipped below the 25 EMA, it resulted in a PUMP.
If we manage to break out of that range in bullish momentum, we could see another run-up.
as you can see in my post we have a falling wedge for LINK/BTC here.
There are currently 3 EMA's acting as resistance (EMA 50 = Yellow, EMA 100 = Blue, EMA 25 = green)
But EMA 200 & 300 (Orange and purple line) are acting well as support.
Most pumps have been at the 200 EMA support (I marked them as green bottoms) in the short past.
As you can see in my post I have a couple of reasons for you to decouple from the VET/BTC chart and start to focus at something more interesting and most important - away from Bitcoins usual manipulation!
First of all, I would like to point out that beautiful uptrend we had the last months beginning from ~January.
1. We are building support ABOVE...
As you can see in my post we got our inverted head and shoulders pattern confirmed.
EMA 25&50&100 acting as support. (Turquoise and Yellow line, Blue line as well)
Next target would be around 13.400$ dollar before we face the 0.786 Fibonacci resistance.
I'll open up a small long and put my stop loss to the 11,850$ ish.
Trade safe and protect...
Hello guys, as you can see in my post we have been rejected by every EMA since the summit highs (160 sat~). Followed by a WXYXZ (Eliott wave theory count) downward trend there is consolation ongoing in an ABCDE triangle formation. We are currently trying to test the 25 EMA (turquoise line). If we keep holding above there are great chances to go for another attempt...
Hello guys, as you can see we rejected hardly at the 200 EMA (orange line) 156 Sat~ , after we rejected we got a hell of a dump and initiated with an WXYXZ to our current price 98! As we completed the eliott wave pattern we are forming slowly into a falling wedge & our new considolation zone. If we manage to break up we will see another attempt to test the 200...
RSI 14 is displayed on this Chart.
The last movments have been
"Considolation (trianglular) --> Pump ---> Considolation (triangular) --> Pump"
So we kept producing HH (Higher Highs) until now. We are at 69 Regions wich is pretty overbought (sitting at the top). Would love to see a triangular considolation and then a HL for a healthy pullback!
A correct Elliott wave count must observe three rules:
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.
As you can see in my post we have here the 1W Bitcoin (Bitfinex) Price Chart.
We have a cross of the 100 EMA (Blue Line) and 50 EMA (Yellow line).
This is definitely an indicator for votality and means if we manage to break the 200EMA (Orange Line) resisstance. We can basicly take this as a bullish movement as we are getting closer and closer to...