The move in the triangle is getting flatter everyday and the volume inside the triangle is decreasing so it indicates me that the move in the triangle (or price going down)is about to finish with a breakout.Just don't know the direction.(Hopefully upside, but if it goes downside it will be a good time to ACCUMULATE)
HODL ON :)
After forming a similar form to cup&handle, price goes to nearly 2.618 fib level.
After the bubble, it corrects to approximately 1.618 fib level and the other cycle starts.
Pay attention on how to halvings are in the handle zone, and all time highs happen after the handle/halving.
TRYUSD (Reverse of USDTRY)
Starting from 2014 :
There have been 3 similar cycles.
All cycles starts with a reverse cup&handle and
ends with a sharp fall from the support line that is the bottom of that reverse cup & handle.
We are in the 4th cycle now and if it continues like that my prediction is :
On January 1st : 1USD = 11 TRY
Downtrend is finished with support line.
EMA13 plays well in USDTRY.
Must check after the elections at April 1st.
A possible agreement with IMF will probably signed so after the elections a sell strategy can be applied.
Properties of the period that is between halvening and ATH :
- All time high happens after halvening. Then drops significantly.
- In logarithmic chart, Price increase in percentage drops %33 at every blue box.
- Period between halvening and ATH takes longer by %38.
So; after the third halvening, price change can be around %1000 and time for that ATH will be 90...
Btc will break out from upwards from the triangle(hopefully with volume).
RSI;it indicates that it is oversold, which is bullish.
MACD;blue line is also beginning the cut the red one so that one is bullish too.
For fibonacci channels,i think the hardest levels to break are 0.382 and 0.618. If it breaks that levels, 30.000 looks easy to go.