We're in very uncertain times, we are for months in a bearish trend, and recovery ain't easy, but a small reversal might be around the corner... Only that pink trendline is for sure the biggest issue. Many bullish triangles have been rejected or had a small result... in a smaller degree there are plenty which are rejected, but if go bigger.. than rules are...
Too bad I didn't see the bigger picture... Thought first... what a boring coin.. First time I check this coin on Tradingview, and looks like a very clear 'cup and handle' in a 'cup and handle'... Hope it will reach the potential target.. Again.. I cannot believe I didn't see this coming.. in 10 days.. 4x !
Lets hope for a nice follow up... I didn't publish previous head and shoulder pattern, but it was correct. It could of-course go down from here, if the subwaves are complete, and stay in the green parallel... Still some overhead resistance to overcome !
I m not the first one with this count, but I like it as I m still bearish anyway :-) But there's a time we have to become bulls again of-course...
BTC PUSHED IN THE CORNER... WIN OR FAIL ? WHAT DO U VOTE ?
BTC is at the end of it's 'suffering', and major decisions will be made.. Meanwhile we will see a short upwards movement.
We are nearing a low volume, fast and low volatility and a strong support zone, which could be a good sign. In Elliott waves there could be 1 small wave down, but normally this should be the end, and an up-wave should start. On the daily chart, I can see a repetition of double tops forming in 3 degrees, which now should be the last one and indicate a bottom out...
Personally for me there's totally no proof of a bullish trendreversal as we can see a serious resistance on the (dotted pink) descending trendline... from the top of BTC to the first major break out attempt.. I would like personally for BTC to get through the resistances easily and confirm an uptrend, but I have the feeling that BTC will confirm many times the...
I connected as many lows possible in 3 different parabolic movements to indicate a moving support line, but curved, as straight lines are always there to be broken eventually. Curved lines can indicate a whole trend or a cycle. I didn't draw them random, but looked previous trends and tried to remove them as much as possible to connect as many points, even the...
what we have to say... the blue pill or the red pill ?
XRP could behave like many alts... which means... the regression must hit the high of the previous 'cycle' or trend.. so.. there's a possibility to visit to 0.4 usd level...
If we look at the bigger picture, and think about a normal expansion and growth of bitcoin, we are actually still on the right path... I clarified in green the normal trend, if the previous stage would not have been that extended, nobody would have panicked (so much) or doubted the progress.. Now we could expect some overreacting bitcoin, due to the previous...
BTC formed a double bottom and broke through the neckline. Fast breakouts occurred, and a double reversal of that retracement should follow. Keeping in mind this could be wave 5 (in purple). In a larger degree we're in wave 3 (but I didn't draw that one), so it should make sense as this wave 3 is not extended enough. 21 & 100 ema are about the cross as well...
In uncertain times, it is difficult to predict, but let's say we have some options... if we're still bullish of-course and another coin won't take over bitcoin ! Or regulations will mess with crypto... for a period of time
BTC in bullish mode, as I told earlier the descending parallel is broken en swapped for the ascending (purple) parallel... I left some overhead resistances out, as it may look too busy, but there are idd. some obstacles to overcome... Waves are shortening, but the path remains the same... the ascending parallel is for me the most convenient way to draw the Elliott...
When the outcome doesn't match the past analysis, one must confess they were wrong.... idd.. I made a wrong calculation and thought the bullish trend would continue faster as established. I am quite sure I made a mistake by counting too much on a classic Elliott wave count. On the 24h chart, it is more clearly visible that we are in a new wave upwards, and...
LTC gave as the first one the example for a trend-reversal, but is now in the footsteps of BTC ... BTC is having problem with the descending parallel as well.. Hope this is temporarily and it doesn't stay in the parallel for long