While I fully advocate you watch the minute charts to see how the wave structures are forming, don't forget to step back and look at the big picture. I always have two charts going like an 8 minute and an hourly or two hour. The younger a stock or coin is the shorter time frame for instance if you can't see a 200 MA then you need to switch to a shorter time frame...
BCHUSD is knocking up against massive resistance and so expect some choppy turbulence here. It should push through and the storm will clear to present more sunny skies... perhaps even a blue sky event? Wouldn't that be lovely...
Here's something interesting to show you guys. It is a sideways consolidation pattern that occurs when a stock or coin runs up too fast. The 20 MA needs to reconnect with the 50 MA in this sideways pattern. In both charts we are going to see a strong move higher very soon but these are different coins with different time frames. On the left ETHUSD showing on a 3...
We are breaking out and this will be with volume and velocity. IMO this really can be a final structure before a retrace so pay close attention and watch the minute charts because you will not see the structure action otherwise.
Perhaps I was too hasty on my last ETH call and the 30 min chart is looking more promising. Still long but a bullish downward move to reconnect with the 200 first.
Morning star doji in red circle should signal the reversal. On the 5 hour chart on the right hand side we have a golden cross.
We are soooo close to breaking out of this long term channel and it will be very exciting if we do because it will indicate the final 3rd wave rally to above 7000 with a change in vector volume and velocity (3 Vs). The exuberance could push it beyond my 7500 target.
I was asked about EOS by one of my followers. Yes, very nice break out and I see a first three wave target at around 1.18 where it will encounter some strong resistance.
I just made some minor adjustments but it looks like we have very good support here.
All in all it really hasn't taken that long to complete the wedge consolidation so now we see what is in store for us very soon!
Should make a move here pretty quick in my opinion.
Consolidation looks to be about complete on this small wave that could not break up through support/resistance. Should make some small waves higher now that it has gained the support of the 200 MA on the hourly chart. Could be one final low planted to get some vertical momentum as is usually the case to pressure the weak longs to throw in the towel.
Here's another speculative bitcoin fractal idea just for fun. Bitcoin posting another three wave structure on the 1 min chart. Could this be a foreshadow for the bigger 720 complex? Could this be a give away of bitcoin's next big run up to 10 or even 12 K after a consolidation back down to the 5 K range? Ancient Alien theorist say yes...
Nothing is certain but from what these charts are showing this could be a fairly decent rally. The 50 MA crossing the 200 MA on the 4 hour chart is helpful also.
Analizing the 20 MA and the 50 MA on the 480 chart for a possible prediction
We have had a very big retrace now but are showing support that should hold on the 15 minute chart and 1 hour chart which is basically the same moving average. Also we have reached close to the top of the previous wave which is generally a good indication of a completed retrace. No guarantees but this looks to be a good entry range to go long. If you bought in...
BTCUSD appears to be finding support on top of previous high resistance and if it can maintain support here it will be bullish and move to a new high. Also note the bands of comfortable ranging movement appear to be stepping higher.