We are moving currently in a Fib Channel. Above and under the channel we are in the liquidity zone for the big players. All up and down spikes were caused due to a short/long squeeze, like our last upwards spike.
In a nnutshell, we are still heading downwards. But be patient! Tight stop/lose if fomo kicks in!
- We are moving in two perfect fib cannels currently.
- green ABC waves = perfect 1:1 extentions
- yellow ABC wave = 1:1 extention with the same target as the golden pocket
- golden pocket (0.618-0.65 fib retracement) same target as the long term horizontal support
- 7000$ would be a perfect retracement target
PS: Technically, we are still in a bear market. The...
Bitcoin has failed the third time an upwards rally in a row. Hence our current dip is stronger than usual.
In a symmetrical triangle you have in general a 0.618 Fibonacci relationship between the falling waves. But it's more important that you have a consistant relationship.
In this case, we should have a 0.786 relationship, which would also fit with the lower...
Bitcoin is still on a threshold between a longterm reversal and a downtrend towards 5000$
Nervertheless, the bullish signs becoming more and more intense lately.
1) 21 EMA
The 21 Exponantial Moving Average on the 4 hour chart acting like a good support recently and we are acutally bouncing of it again.
2) 200 EMA ...
The last upwave was stronger than the most of us expected. (we've broken a 1.168 extention)
Now we have formed a perfect leading diagonal, which is wave 1 of a possible starting Elliott Wave.
Inside a diagonal, the perfect pattern would be 5 times an ABC wave, which i can easily construct.
Nevertheless, a retracement is highly possible now due to the fact that...
I know that you guys want to see the next bullrun of Verge, but i would be currently very very cautious with this coin!
The bounce of the red line was expected and normal. But it's not certain if the support will hold. 330sats are the crucial target. After that we will drop to a price nearby 170 sats.
A 1 to 1 extention of the ABC correction would hit the last...
Looking on the RSI, we can see a reversal everytime when we hit an oversold situation, only despite on the last one.
Furthermore we are forming a triangle, in which we are currently at the 4th wave.
Hence we should see a small upwave and then a big last downwave due to the RSI!
The small upwave:
There are many different...
After the drop below the big red symmetrical triangle we are in a clear downtrend now!
This article tries to show the next big targets for Bitcoin.
For a bigger overview you should read my last TA first:
1: Elliott Wave to 6000$
The current situation of Bitcoin is quite difficult. We are on a clear treshold. A lot of traders are saying that we are on a clear downtrend, but the same amount of people are claiming that we will have our reversal soon.
This article tries to sum up all important information you have to need!
1: Retracement of a parabolic uptrend:
There is a rule of thumb...
The green lines are the longterm trendslines of Bitcoin.
We had a perfect downwards Elliott Wave (pink lines) with perfect Fibonacci ratios.
At 6k we bounced extremly, thus there is a massive support at this range.
We have formed a clear big inverted Head and Shoulders and we have broken through the Ichimoku cloud.
Furthermore we broke through the first big...
The most of us expected the bottom at 8000$.
Unfortunately, we dropped lower to a price nearby 6000$.
The rebounce was strong, which is good, because we see a strong support there.
On the way down, we formed a clear nice Elliott Wave and now we have an ABC correction to a price nearby 9500$.
Fortunately, we formed a reverse Head and Shoulders pattern, which is a...
On my opinion, we are aiming for a small recovery to 15400sats and on the slightly longer term to 16500 sats.
We formed a bullish double bottom with higher lows and broke through the mid-trendline.
We should form now a small Elliott Wave to 15400 sats.
Our next target should be something around 16500, if we are moving to the edge of the big longterm triangle.
On the fundamentals i personally think that Ripple is extremly overvalued currently.
The 1h chart just shows us a perfect Head and Shoulders pattern, which could end up in a price reduction of approx. 40%.
After the problems and the "delay" of wraith protocol on new years eve the price of verge dropped and formed a big triangle.
Lately, we slightly broke through this triangle and formed a smaller one.
Boullinger Bands are contracting, volume is waning, MACD is flattening and we are on the edge of the triangle.
That being said, we will see a breakout really soon...
All the recent FUD and the Bitcoin spike (Hardfork) killed all the TA made for Verge.
But now we can see gaining a small momentum. We broke the small purple triangle and started an Elliott Wave.
If we can break into the old big red triangle, we should be back in track.
But be cautious. Bitcoin can kill it again.