I entered sushi when I noticed that channel support is valid. (Entry 27.April)
With strong set ups on many blue chip DeFi tokens, the low valuation in realtive terms of Sushi caught my attention.
When Sushi closes above horizontal support it gives me signs of strength rather than weakness for now. For me, possible entries are once a channel breakout (If covered...
BTC has a bullish pattern breakout to new ATH. If we close above the ATH two days in a row, it gives me confidence that we will see another leg up. (Still waiting for Volume or Price going over potential Trendline of Highs Trendline)
I see two risks at the moment: the risk that we might some kind of a rising wedge. Also for the reason that our pattern breakout is...
Bounce now from supportzone and we gonna take off. My DOT trade target for this scenario is 80$. (SOL trade 2.0)
BTC and ETH have both pattern- and ATH breakouts but watch how the candels close for the next days. If we can close ETH and BTC like this, it looks like the market is ready for another run.
massive head and shoulder pattern the diagonal trendline/ neckline will be the deciding point.
At the moment we are trading just before it and would expect a bounce for a short term end of the old season.
If we close below the neckline on the weekly chart, I expect another run of alts with sick gains to come.
XRP attacking the downwards Channel its in since 2 Years
- Since July 2019 highs stay more or less the same
- First Higher Low in June 2020 followed by another one in September/Oktober
If Weekly get closed above the Neckline massiv Breakout could be ahead
We are currently forming a head and shoulder pattern on the ETH/BTC chart. The measured target would perfectly match the volume support and the Golden Pocket.
As already mentioned in the ETH/USD & BTC dominance chart I will buy Ethereum in the price range of 320$-250$.
If we see a drop on the ETH/BTC chart to the target, it would be a perfect cup and handle...
If the channel should break out upwards, the first target would be the centre line of the larger channel.
In case of reaching the upper trend line of the larger channel I will look for additional Altcoin positions.
If we should break downwards we can look forward to a continuation of the Altcoin season for the next weeks and months.
From now on we have increasing volume support which will make it more and more difficult for the bears to lower the price.
From now on I will slowly start buying Ethereum.
Dream price would be again 250$.
I think a retest of the 10.5k levels is currently likely. BTC market tends to bullish sentiment again with a positive bitcoin funding premium index for a long time. A short term correction could take the longs out and create a further upward leg by retesting the old giant Residence Szone. Despite this, it is obviously possible that we will see higher local highs...