No reason to think this would breakdown other than:
The news cycle is a little slow
BTC runs hard and fast
There's still a ways to go on this project...some things moving and all.
But, they've made some quick progress and look like a legit crew. More than I can say for many of the projects ranked above on CMC
260 sats vs btc
Breaking this w/ even a wick invalidates one bearish EW scenario (abcde of the low). Vol continues lower but looks better vs. usdt.
Theory is some are out of btc expecting choppy action and looking for reasons to trade alts w/ sideways confirmation on the king.
Also at 200 hourly ma and top of crypto ichi cloud. EMA Supports below and bottom of...
Chart includes real stuff + my dumb drawings. The Fib levels are what's important, but imagine an EW pattern or something, you get it. Don't think I believe the action will follow the path of my dumb drawings.
This is a "what if" we get a similar ratio both in time and price to the previous two Bitcoin halvings. This includes the future ones too.
So, I got a little hate for the h&s slanted neckline and is very one is such an expert after watching one YouTube video where “volume must confirm h&s...blah blah” which is really a nice to have and not required. Yes it improves odds of coronation but noting is 100%.
Also the target (neck to head = neck break to target) was the .886 fib vs. usdt. Let’s see if we...
LTC has repeated the same setup multiple times now... Middle finger looking top with a fib level support setup and an arch like consolidation. But, there are several spots it could bounce just to retrace more and do it again.
So, just be cautious and know the closer we get to August, the more like a major dump is coming, because it is what litecoin has always...
Caution, this is a textbook setup dream land moon hope view... but technically ok. Keep in mind it could retrace more and still be bullish on the weekly.
But. Classic EW soundness, bullish flagish setup, holding wave principles of depth and length and all the common threads.... 1:1 total from start to third = 5th is 3x from here. And it could always extend...
After we broke the slanted h&s neckline we tested the .618 area and have bounced up on good volume... but it means nothing until we regain ema supports and we clear the 4 hr crypto ichi cloud.
Bearish - We bounced up to the underside of the neckline and rejected. We are under key SMAs and EMAs. Haven’t hit h&s target at the .886 retrace.
And - h&s volume...
Not saying this is my view, but just laying out a scenario.
Notice that if we do have a 5 wave EW wave 1 and are in a correction now, on the macro scale the wave 1 everyone is laying out (the opening day of trading on matic) it retraced to the .886 before going 10x+ to over .04 from ~.003... Interestingly, if the H&S holds true, the standard way to get a...
Short term bullish with a few bearish things to watch
Matic is limping out of the hourly descending wedge
Selling pressure slowing as seen in actual vol and on the macd histogram
At a secret crypto support apex on hourly - an ema and ichi support
Volume still sluggish
On the 4 hour long way (few days) to go before the 4 hour cloud let’s...