ETH formed a range between 1780 and 1616 on the 1H timeframe, deviated above reaching a high 1840 just to fall back in the range. Now retesting the range high from the inside. If confirmed, target is range low.
After a 22 months long bear market UNI finally breaks the market structure. Deviation -> Reclaim -> Consolidation -> Breakout To me it looks good. Targeting the red area.
It might not make much sense in the current mood because the majority of market participants expect either more downside or sideways price action for the next 12/18 months, but I feel the real surprise would be an upside move. A strong move, forcing the many in disbelief to rush in mid-to-late on the way to an early top somewhere in the low 6 figures range. I...
I believe SOL might be a very good bet down here: - down 96% from the highs - Bitcoin trading in deep value zone - market sentiment reached extreme bearishness - at least ready for a counter-trend rally
Trying to imagine how a powerful reversal pattern (kind of a huge diamond) could look like
If Bitcoin continues its steady logarithmic bull run, it could be interesting keep an eye on this log channel. I don't think it will break it to the upside. We may start a correction soon, but long term it's bullish.
I drew a channel including bitcoin price history starting from 2013 till today. The upper boundary is touching 2013 and 2017 market tops, meanwhile the lower boundary clearly defines the uptrend bitcoin is maintaining since then. Nothing new. What I added is the orange mid-line , which is not at the EQ level, just a bit higher. Its position is arbitrary and...
ETH is potentially building a massive Head and Shoulder top. Confirmation at a break of the neckline. To be honest I don't think the pattern will complete, but I really like the clean look.
Bitcoin monthly chart. Every time BTC went in bubble territory (see RSI) it topped and it didn't find a bottom until it breached the 20 months moving average and reached a level approximately 50% below it. I'm excluding March 2020 flash crash (the DSS also suggests that was a special occurrence)
After getting rejected by the inverse H&S neckline, BTC started dropping in a move below the right shoulder low, confirming the pattern failure. Simultaneously it lost a few more key levels. There are high odds in favor of a continued descent into the low $30k level.
In the chart you can see multiple occurrences showing loss of momentum that in the past cycles resulted in further downside for BTC.
Preferred count = expanding triangle marked by yellow ABCDE
Possible move down if previous top is not broken.
If the count results correct and the wave C will be 1.618 of wave A, I think that BTC could bottom in the green box before starting a new impulse to the upside. Planning to long from there.
Betting a very small amount. - If it's in the process of forming a bottom, 3x-5x or even 10x are feasible in a few weeks. - Very low priced in satoshis, which means that small moves become big in terms of percentage. - Is better to buy early. Buying at 22 sats instead of 20 sats now, would mean paying a 10% premium. - Very low market cap and volumes. A slight...
Possible EW count.