Just an idea I wanted to share, to see if history repeats itself. The price action we're seeing is somewhat similar to just over a year ago. The candles, RSI, and MACD all tell the same story. If history rhymes, XTZ could go sideways and then down to touch the yellow support line before rallying. What do you think?
I've been a long time holder of this coin; bought some way back in in 2018 when it was at $12, lol. It managed to make it all the way up to $18 before tanking with everything else. Given that we've already seen where it's been ($18), I'm thinking there is a ton of upside potential from $0.42, and as of late the price action has begun to stir again.
1) on the daily we just came out of a large cup and handle (you are mostly just seeing the handle on this chart)
2) on the 4H we are closing up an inverse head and shoulders
3) volume is picking up
Up we go from here!
Harmony broke out, but it's not looking as bullish as I hoped it would. I suspect it's going to go back down to touch support before it starts trending upward, or possibly sideways from there. Now is the time to wait and see. Also note the MACD.
Yes SHIB has broken the descending trendline, but it's also repeating a pattern it has done before. I think if BTC manages to break through the $58k resistance it's hanging out under right now, we will see SHIB also break up and rally. If BTC breaks down then SHIB will follow, probably touching the lower curve line or perhaps even lower depending on BTC. Let's see...
Lately I have taken to drawing curves on my charts to visualize the boundaries of the price action. It also helps me set buys and sells.
Here I have noticed that BTC is beginning to repeat similar price action from the previous level it was on. If history repeats itself, we will get four sideways humps and then a drop to a lower level. This is just a theory, so...
I see MANA trending sideways in its bull flag for the next 24h or so and then completing the bowl. Use appropriate stop loss in case it invalidates these formations. Don't forget this coin can pump as well as dump.
Right now there has been a move up to form a falling wedge. Usually this would break to the upside, but the MACD and RSI say otherwise. And even if it does break to the upside, it will run into that falling resistance line almost right away. It will have to be pretty bullshit to bust through both, but we can't rule it out. I suspect it's going to want to finish...
On the 1h we see a rising wedge, but I have a feeling it's likely going to break upwards rather than down. For one, we have a cup and handle on the daily timeframe, which we've just completed and begun trending upward. Secondly the formations within the wedge also exhibit cup patterns. A decisive move should be incoming soon.
Chart says it all. Once price breaks upward through the falling wedge formation and confirms the previous resistance as support (the upper descending line), we can take a long position with stop loss below the (now) support. Best of luck!
When zoomed way out on the entire BTC history (weekly in log), you can see that we are in a bull flag, and it's likely BTC will complete the formation before breaking up or down. I will be surprised if we don't touch the lower line @30k.