Ethereum could be forming a large pennant with an upside target of $6.2k .
Path may not be exact, accumulating and staying the course makes sense. Know when the structure is broken and where you could be wrong.
We could see a short term pullback to form a cleaner structure of the pennant, with a pennant break out around october november. This is on the...
A lot of strength in this recent price action considering the following factors
- large short squeeze (all funding rates were negative)
- on chain metrics indicated a lot of accumulation
- B word event highlighting institutional interest and accumulation could result in fomo event. Interestingly since the B word event we made the 30k low and havde been...
Bitcoin long term perspective using line chart and focusing on the scale factor 10.
The factor of 10 starting at 1k.
1k -> 10k -> 100k -> 1M
2013 top $1177 (-88.23% of next 10 factor - 10,000)
2017 top $19764 (-80.24% next 10 factor - 100,000)
Difference between above
-8% approx. Then project that against next 10
Nobody knows but one can speculate.
One potential path for bitcoin to take. I expect this bull run to manipulate a lot of traders/investors who assume we will replicate the past cycle.
•Lower side drop buy prices around early september 2021 (13.8k to 27k).
• Intermediate top 120-150k mid 2022. Followed by 50-60% correction
• Final swing up to a final bull...
A very immediate term short term extreme bear case. Drastic pullback to retest the key trend line that was previous resistance now into support? Then onwards with next bull case wave up in line with btc.
Current market cap it around $45billion.
Target for next bull wave would put ADA market cap at around $250-$300 billion.
Dollar cost averaging here on the way...
After a long uptrend we are about to print our first red heiken ashi candle on the monthly.
This could be an indication that uptend is or has neared its end as in the previous cycle we printed 13 consecutive green monthly candles after which the uptrend reversed and had a continued downtrend. We have had in this cycle 12 green consecutive monthly heiken ashis and...
6 month candle closing today with a very strong wick to the upside highlighting significant sell pressure. Consider the chart of bitcoin altogether this has to be the most bearish 6 month candle bitcoin has printed in its history and could mean some downside over coming months.
Previously we saw on the covid drop the buy pressure with a strong wick to the...
3 month chart for ethereum.
This 3month candle has 1 day left to close and it currently does not look like a very strong candle (shooting star or possibly a gravestone doji) could be an indication of a trend reversal over the mid to long term.
This bearish pattern could be negated by a strong full body close of the next 3 month candle covering a decent portion...
2day time frame potential head and shoulders.
Would need candle body close below neckline and potential neckline retest rejection to confirm pattern. $250 target. Can obviously be negated should bullish structures take precedence.
This is one bearish perspective however there are many bullish structures that can be viewed from recent price action so take this idea as FYI and something different to consider as opposed to the numerous moon calls 😃
Not financial advice and considering the demand for bitcoin this pattern analysis can easily be negated by big whales soaking up the sell...
If you study price action, Bitcoin has been respecting each level on these fibonacci circles . Every cycle increases (bull and bear) increases in length over time and the % returns diminishes too. If you analyse the price action from the 2014-2016 range and contrast it to current price action, you can see the similarities to how price respect each ring, bar some...
If you study price action, Bitcoin has been respecting each level on these fibonacci circles. Every cycle increases (bull and bear) increases in length over time and the % returns diminishes too. If you analyse the price action from the 2014-2016 range and contrast it to current price action, you can see the similarities to how price respect each ring, bar some...