1. As per yesterday's expectations, BTC Dominance has played its part
2. The Wedge pattern, played its part from the upper side touching $57,049 respecting the crucial local resistance.
3. BTC has respected 0.786 at Global Fibonacci retracement pattern. Next extreme point is at $59,730
4. As per BTC.D it's highly likely that BTC we will go a bit corrective and...
So I was testing something last night and found this interesting similarity in BTC chart.
If we compare February 2020 and Today's Daily chart of BTCUSDT we can find the following similarities:
Position of 50/200MA forming a curvature representing a fake bull trap.
Green colored arch extending from sideways market to local ATH, exactly makes 75 bars.
SLP USDT UPDATE
So I decided to end SLP backlash tonight. Smooth Love Potion (SLP) holds a great value in itself, you can read the details about his project here:
On the day of signal, SLP was mentioned to be bought in ladder under 0.24 - 0.32 range as it was obvious that breakout is...
BTC AND MARKET UPDATE 16TH AUGUST 2021
A rising bearish wedge has formed in BTC chart. We have observed that in lower time frame BTC has respected the 200MA three times at $39,850, $43,795 and $45,514 reflects a strong bull support at these points.
In short term, BTC is bullish, paving its way towards $49,000 mark with a pulsating volume,...
BTC broke its dominance run yesterday and currently taking every coin down itself, we have see in the past that $42,750 to $42,503 is a support ribbon recently developed where it's headed.
In LTF, 200MA lies at $43,348 where we can see can BTC will bounce a bit, second support is mentioned with green ribbon extending from $42,750 to $42,503.
BTC broke the 200MA resistance as it is expected and projected by SYCAP pattern's 6th phase.
We will be in exploratory zone soon when we hit 50k.
Details of the pattern can be studied here.
This is for purely educational purpose and reflects my personal opinion on market and shouldn't be taken as financial advice.
The Bull is slowing chasing the red flag in a muddy grounds.
The Third bullish wave is about to end, after which the re-correction phase follows which is 4th phase and the bullish wave will resume in 5th wave.
Current Wave (3rd Wave)
BTC is kicking the resistance upwards, the wedge is wide open as it is continuously forms. The Elliot waves chart is...