Here are my thoughts for Bitcoin in the long term. Daily indicates we have been in a strong bear market all year, and that gives me some hope that once we break structure we will see bulls break loose again. Thoughts?
ONT creeped into the top 25 market cap surprisingly quickly. Out-performing much of the crypto industry right now. Hoping to have the opportunity to pick some up at the 38.2% retracement in confluence with the ascending TL.
I have ETH coming down to hit this ascending TL in confluence with a small H&S pattern. This level aligns with the market fundamentals we are working with right now as well, and should be finding support at the TL around the same time Bitcoin is. We shall see! Pending orders set for $430.
Unfortunately, it's looking like Eth isn't done bleeding out yet. News of Google banning Crypto ads broke price out of a strong area of support and we are now free-falling to the 78.6% retracement of the big move, in confluence with a strong trendline and support zone. Setting buy orders less than $500, around $480.
We are struggling at a 38.2% retracement right now but i expect it to continue dropping. We have a really strong ascending trendline in confluence with a 61.80% retracement on the smaller move, and a 50% retracement on the larger move. Better yet, we have confluence with another strong trend line (orange line) intersecting at the same point. I think this will...
We are closing in on the completion of this ascending triangle. We recently saw a breakout met with resistance and pushed back inside the triangle. We are hovering at the 50% retracement of the smaller move after wicking down to hit the moving average and being respected as dynamic support.
I have drawn out two scenarios. The green arrows show breaking through...