A few days ago I posted an idea that if we could have a strong break of 10k we could go up quite a bit.
That obviously did not happened and we are now headed to the bottom of the symmetric triangle. Fib .618 has been very reliable and it is a strong resistance right now.
First target is 7800s then 6200s.
I will post if I see a tight entry
If you see my history, I'm better at finding bearish scenarios. But this is not the case. If we get a solid break of 10k BTC will most likely rally to 13k fairly fast. Right now we are at a tough resistance. But if we can break these Fib levels, we are headed for a massive move.
BTCUSD has printed a picture perfect cup and handle. A break of 9500 will confirm the pattern. Targets are 10k, 10300 and 10900. Only issue I'm seeing is that altcoins are not reacting. They are actually dropping as BTC is moving up. I still believe BTC is king and if the cup and hanlde breaks to the upside, alts will follow
Clear cup and handle for ETH can take us to the 200s. Please be aware it is the weekend, which means that we will probably have fake breakouts.
For confirmation of the pattern, we need a close above 175 in the 4 hour
BTC is has crossed and held first resistance in the daily chart. Now it will face major resitance at the 7800s. I believe this will be a big road block and take us back to the low 5000s level. I will update once we get price action at the 7800s level for confirmation of the sell out
We are in a descending triangle pattern in the 15/1h time frame.
I think we are likely to go down due to major overhead resistance. But there is always a chance to break to the upside. Im 75/25 that it will break down. Careful with false breaks.
Its the weekend, so they are likely coming
LTC is rejecting previous support now resistance line in drawn turquoise. Once we reach 37 we will see the price action to see if we are able to form a double bottom (most likely) or if we keep on dropping
PureStructure here giving you precise entries, targets, and stop losses with good risk reward.
Happy trading and manage risk wisely
I know, we just had a big bear break and everyone will start calling for a massive drop to who knows where.
But looking at the charts we are in a good support area and if we break up from this wedge we could see some big gains. We already dropped 50% from recent highs at 330.
If you are a long term trader this is a good point of entry with minimum risk
Ethereum is looking very strong right now after breaking the 180 resistance and the desending wedge drawn in purple. This is a great 10:1 risk reward opportunity that doesn't come often. Target is 30% higher
BTC is at a strong support level. Can this support fail and break down? Yes, but most likely it will hold because we pass right through previous support and RSI levels are at extremes.
Stop loss is at a break of 10k. However if it is a false break I will re enter. Not this but the next 4hr candle close will determined if this level holds.
We have a big triangle (in purple) right now that is coming to decision time.
If we break down from 9600 with confirmation, it will take us to the next support at 8800 which is a great buy opportunity as a larger bull flag is in play.
If we break up closing above 10,000 our target is 11k at the very least
I believe that BTC wants to break down,...