In this chart you can see a potential breakout target of $0,74 which rhymes with the Fibonacci 1.618 level and the reversed symmetrical triangle technique.
Should BTC hold it’s current support or breakout again, XRP will follow. Tomorrow will be the start of the SEC trails, so this may fuel the breakout or ignite a sell-off.
BTC is the mother crypto of all other coins and is seen as the best performing asset ever. This all is true, but looking at towards the future it seems BTC is slowing down it's pace. So bear with me on this hypothesis;
BTC ATH is around 20k , which comes down to a 200% gain when we reach this level again.
IF BTC reaches the magical 100K , we will see gains...
A display of previously occurred events. Long term bullish, but with a degradation. In my opinion was the bull market with the 20k ATH not within the trend. I think the next peak will break out the linear and parabolic trend lines.
When you look at the chart we can see that we are nearing the apex of another triangle. Although we broke bullish this weekend, the chances of the long awaited correction are still there.
IF the triangle is broken and we go below the previous ATH, we can expect a drop to 8100/7900. When the 100MA and 200MA on the daily are broken we can see a drop to even lower...
I'll keep it sweet and short. As you can see we are nearing the end of the triangle pattern. I'm expecting a move soon.
Be ready for both scenarios because these kinds of patterns are usually sign of market trend continuation. The general trend is the lower red line which has formed over the past view months.
Because all the indictors are showing an exhausted...
When you look at the more zoomed out chart, you could draw a trend line beginning after the previous bear market.
The purple line shows a possible longterm scenario and definitely supports the idea that we will go up higher can the near future.
Nevertheless, BTC has strayed a little bit too far from this trend line, the 100MA and 200MA. Therefore, I think we need...
This time I've made a more detailled chart to share with you :)
Yesterday I posted a chart with the same vision and warned about possible stop-hunts. As we just had the third confirmation of the descending triangle, I think we are headed in a bull-trap.
Also, we can see a clear pattern of rejections at lower highs. This is an indicator for a bearish set up.