A very small TA on this sunday.
We can see that the price has almost formed a cup and handle pattern.
If the cup and handle will break out the neckline with good volume, the target must be 1500 above it. So that's above the multi year resistance.
In front of you the daily of Bitcoin.
Several times it touched that "long line" and hit an higher level. Two days ago it touched it (10th may). If it breaks the 9400 level it might be a long untill 10300 and will hit the multiyear upper level of the big triangle.
If it fails the long line the price could fall hard.
This is an exiting day, the halving.
Ok, only take a look at the blue lines, the circles, the arrows and the blue brush lines.
And right now we a fight or the price will be above the resistance line or below it. Both situations give a big result up or down. Pump or dump.
If it will be up we'll prob hit the upper level of the big triangle of the past years....
Thanks for reading this idea.
We can clearly see the line that has been triggered last days / weeks.
I expect that it will be triggered another time. This will result in a break up or a break down.
A good break up will be confirmed if the s/r line will be tested succesfull.
A break down will be discovered by a negative divergence on RSI........
Above the crypto total market cap, so btc and alts.
We can clearly see that if the horizontal s/r line has been triggered big moves are upcoming.
The coming days / weeks big things will happen in the cryptospace.
Which way it will go, we'll soon know.
Right now the price stucks in a triangle.
There is nothing to say about the outcome because the coming halving.
But for me is it a long by a breaking the upper level.
short by breaking the lower level.
We can calculate what the targets will be, but I'll not do it because the uncertain situation. But my feeling is it go to 10k by breaking the upper level. For...
I'll expect price will be on short term as low as the circle, the place where some s/r lines will cross. That's the bounce area for bitcoin. After that, most ideal setup before halving is an easy on climbing price, as drawn.
Check also my previous idea's linked below
In front of you the 4hr graph of BTC.
We can see clearly a bearish wedge, confirming by little bearish divergence on rsi (black lined)
Big chance it will break downwards for a small correction, if it breaks upwards be can see big moves again..
In front of you the weekly of Altcoins market cap.
Since start 2018 we are in the big triangle. This is a big one, with several resistance lines, so it's difficult to make a realistic forecast, I'll give it a 50/50 chance. Triangles are actually an continuation pattern so will break mostly "trendwards"
A very possitive thing is that we broke the boring...
See my previous idea also about btc, linked below.
If BTC is strong enough to break te downtrend this will be a possible way to do it. inverted h&s formation.
He could always make a double bottom and then go up. A tripple bottom is actually a inverted h&s.
Watch out, if it breaks the orange support line, 3k-4k prices are very likely.
Since halving is incoming for bitcoin, bulls are making moves for a good price to buy big again. I think that's the mean reason of falling price.
Orange diagonal line is the multiyear support. We are close to that one. I've mentioned some important area's in the chart.
I think bulls are planning to buy big before the halving. Therefore was a sharp buying...
In front of you the daily chart of xrp
The price is in a clear ascending triangle with an 80% chance of upwards movement.
The coming days xrp must show bullish movement
Thanks for reading, thanks for likes