It appears we have a Inverse Head and Shoulders pattern that's formed on the 4hr time frame. $40,600-$42,906 is the targeted region.
If we can break this resistance, we can see yields heading to 1.49. Overall I expect bearish pressure on the daily to eventually play to the .98 region in the future.
If we hold, we have a double bottom in play. This could lead to filling the gap that has occurred. Look for institutions to treat this as the Demand zone. The recent sell off was the supply zone.
Cup and handle on ICP. Look for upside targets once key levels are broken.
We are looking for the right shoulder to form. From there we will look for long positions to the $34,750 region as the upside target.
Inverse Head and Shoulders on the hourly chart. Conservatives traders can enter once price breaks and retest the neckline. Aggressive traders can find entry before hand or on the break out. However look left at traffic because that's a keep level of resistance where we may have our pull back event.
Ada is looking as if it is setting up for a cup and handle pattern. We will monitor this trade to see if the handle will form first.
Maybe next cycle or late this cycle we will see a $222 or more Eth Classic based on the bullish impulse leg. But in the meantime, we have more bearish pressure to complete.
ETH Has already completed a regular head and shoulders pattern on the hourly. However, there appears that an inverse head and shoulders is forming the right shoulder. If so, look for price to head to the $2,724 region. If we drop below $2,500 region this will be invalid.
Bitcoin has broke key fib levels on its way down. We are looking at price approaching the Golden Ratio of the Fib level which is around $27k-$25k. Also it appears a Bart Simpson pattern will be complete as well.
We expect Bitcoin to make its way to the $100k region of the upper Log Growth Channel. From there, we can expect a nice retracement to the $38k-$35k range to solidify the new support level. This level is a mixture of measurements and Fib levels based on price action metrics. As with anything, this isn't a 100% Guaranteed outcome. The markets can do as they wish....
This is a classic sentiment trade. It's a contrarian style. If 78% are short, how will they get paid? They can't! So the market collects their stop losses before going short. Then once majority are Long, the market will go short to collect premium in stop losses. Sentiment trading is a game changer.