A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
Since we entered descending, I expect a breakdown to the 9.2k area like I also analyzed yesterday. Then some consolidation and a breakdown later this week....
If this falling wedge is a continuation pattern, we could see a target of 28 satoshi! Maybe a bit higher, since there are big sell wals at 32 sat.
Volume is declining, ready for a big breakout... Orderbooks are much thinner, is it 2017/2018 alt season all over again? :D
Bitcoin is in a Rising wedge
Rising wedges usually break down in a downtrend
4800$ is significant support
Danger zone, below 4800 till 3800
Below 3800.... It might get dirty
I like to keep the charts simple
Reddcoin had a great pump history with big Gains...
1st pump 4400%
2nd pump 1500%
What will happen now? We're seeing a long term flat period. Volume is low and this coin is so easy to pump with just a little volume.
Solid project as it seems!
1: (based on history) 4400% pump would bring RDD to 560 satoshi, not very likely at this moment. Maybe late...
Just noticed Reddcoin - RDD is forming an Ascending Broadening Wedge
Price is stable now at 0.0020$, support is also very well satoshi wise.
1 – The Ascending Broadening Wedge
The Ascending Broadening Wedge is one of six Broadening Wedge patterns to be found in price charts.
Broadening Wedges are plentiful in price charts and can provide good...
We had a great rise earlier this month! After the big price increase we fell down a bit.
Also 10th of April a lower high. As you can see, we moved down in a descending triangle. (Red triangle)
As you can see now Reddcoin broke out of the descending triangle today 18th of April!
As you can see we are now in an ascending triangle (blue triangle).
Maybe a slight slight squeeze to 4800-4900 area.
BTC futures expire later this April, I think we might break the 5500$ above early May.
Next big resistance is the 6100-6500$ zone. We should break that zone somewhere in July.
During summer late July/August, I think we will start the...