The wedge is rising which is bearish... Once price breaks out of the triangle it should
I am aware of the big headlines today regarding BTC and Visa. finance.yahoo.com
You know what means regarding short term price action? Diddly squat.
This pattern seems to match up very well. As you can see the first pattern consists of a wedge (white lines) followed by curved resistance (bullish), followed by upward curved support then concluded with a final kick back and a distribution pattern. If Bitcoin continues to follow Gold's crash pattern of the 2010s, we should expect significant price action to the...
I took some time to scan over a few well known bubbles and noticed that within Cronos & Bitcoin, a pattern emerged that was also visible within GME. The pattern I'm seeing beings with am upward curvature, followed by consolidation about the curve, then topped off with a double top (higher / lower) formation. Based on this fractal I believe GME has formed a top...
After scanning over price a few times I noticed that Bitcoin moved up by about 530% after crossing the blue trend line in 2013 and 2017. What is also interesting is that this price pattern seems to repeat following 4 years of consolidation. Currently we are at the 4 year mark and consistent with this time cycle chart pattern we should see Bitcoin rise to about...
Back in 2007 the Vix consolidated in a downward triangular formation and then
displayed circular coiling. Currently the Vix is presenting the same pattern seen in the 2007 chart. If the coiling we are seeing is bullish there should be a massive move to the upside within the next few weeks.
Within both charts we are seeing price make three significant taps on upward resistance, followed by an overshoot in price, which is then followed by a massive move downward within the chart patterns. If there was a time for GME to top out, that time would be now, otherwise we're headed straight for 200. The Blue line is the last point of resistance.
Pattern: Inverse Head and Shoulders
Targets .058, .075
Invalidation: Breach of .030 area
Reasoning: I chose those potential take profit areas because they are the last areas of significant support & resistance.
As you can see in the following chart, when DXY hit 89 last in 2018 it also coincided with a top forming in Bitcoin around the same time period. Currently DXY is situated at its 89 support level. While I'm not calling a top here in Bitcoin, I would be wary about opening any new longs unless price can find a way to break through 40K.
This fractal is comparing the price structure of GME (Q3 - Present) against Ethereum (Q4). Within both charts we see volatility to the downside after price crosses the blue line followed by consolidation above the white line area, which is then followed by consolidation above broken resistance. Based on this fractal I am expecting price to make a massive move to...
Fractal is a comparison of July - August 2020 vs the current time frame. As you can see within the chart, the price structure within both time frames made two significant consolidation formations, followed by a down, then upward pattern. The fact that these fractals align so well leads me to believe we should see price make a sizable move downward...
The two yellow lines are my high probability targets, with the purple line being the maximum low I see this coin moving too.
I understand there's alot of fud out there about Ripple currently but one thing I've learned over my years trading crypto is to avoid the news cycle. Insiders are making moves weeks if not months before news hits the mass public, hence why...