Uptrend and downtrend parallel channels. Red resistance at previous high.
Based on what this token has done in the past, the probability of the price going to the sell zone ($19.67 - $28.99) from current price range is very high. However, if the price goes in the opposite direction, then it is very likely to enter the demand zone. In my opinion, it is foolish to short the market right now even though the price could return to the...
The whales that control this market love to push the price down to the demand zone. They do this so that they can buy your coins while you panic sell at a severe loss. It is best to buy this asset between $5 and $3.91. Anything above that price range is too expensive in my opinion. The price can still reach these levels even though 1.3 million + tokens have...
This idea is valid if and only if these conditions are satisfied: 1. Market makers drive the price down to the demand zone yet again ($5 - $3.91) thus forming the right shoulder 2. The neckline of the head and shoulders pattern is broken 3. The price of Bitcoin tanks and forms a lower low (< $5,774.72) I expect severe capitulation if the neckline is broken....
Watch out! Market makers may short the price back to $4.09. You know what to expect if the price continues to follow the fractal.
CAUTION: Bears can easily take control of this market and send the price back down to $3.91. This one can go either way. It is important to understand the risk.
It is very important to understand that the price can go in either direction. It all boils down to what market makers want. This one is a coin toss. Heads, and the price goes up. Tails, and the price goes down. It is true that the price has started an uptrend since $4.33. However, the price remains in a downtrend parallel channel that stems from the peak...
Posted for observation.
Uptrend, range, and downtrend parallel channels with midway lines are featured on this chart. It looks like chaos but it is helpful in determining points of resistance and support.
I am anticipating a violent wave 3 where the price explodes upward into the blue sell zone.
We could see the price explode quickly to $26.55 although it doesn't have to. We can't really predict when something will happen with any real accuracy. Predicting where the price will go, on the other hand, is a completely different matter.
Posted for observation.
Posted for observation.
Let's see how this plays out.
A violent reversal to the upside is expected.
Perhaps the time has come to break the previous high of $28.99. Let's go bulls!! Stop pinching pennies. It is time to trap all of the bears who are shorting the market at the bottom.