Fakeouts are a common occurrence in technical analyses. Fakeouts are a failure of a pattern breakout to reach the measured move of that pattern and to completely reverse direction.
In this case we take as an example recent LTC price action where there is one clear case of a fakeout. Yesterday's breakout of the ascending triangle with a measured move of $180,...
Bulls lost steam over the weekend and price is at resistance. 12H MACD is rolling down, indicating weakness in the intermediate time frame. A downturn will not be surprising with the obvious bottom of the range target.
Some chartists are claiming that LTC on HTF is forming a cup and handle. This is hard for me to see because the bottom of the cup is jagged. It is more fitting that price action is following harmonics and channels which I denoted.
This idea follows a previous idea that $67 LTC is possible.
Currently it seems price is bound in a descending channel which many...
Doge is following a descending channel and in a range between 0.165 and 0.25. Bullish divergence is forming and will likely lead to a retest of around 0.25 and the channel's resistance. The retest will be reject in my opinion. If not then price will continue to the upper mid range at around 0.35.
I am very bearish longterm on Doge and I think this coin will fail...
This idea is based on the belief that the 2019 to March 2020 harmonic is repeating. We can draw two similar proportioned harmonics to the current price action that gives different paths.
This is a follow up to an old idea that so far has held.
One justification for a drop to 11k is the held belief that the current bull cycle is longer and shallower than the...
This is a contingency plan in case LTC prints a heads and shoulders. I am midterm bearish and believe the market has not bottomed. The recent bull run is an exit pump in my opinion.
The target if bear market resumes for LTC is between $80 and $60.
LTF we will see a rise to print the right shoulder.
3380 resistance formed an ascending triangle which ETH broke out from the 31st of August. The measured move of the ascending triangle is current high.
Notable is a daily bearish divergence which I believe will cause a pullback back to 3380. Overall the PA is very bullish and a continuation to between 5230 and 5500 is expected. 5230 will be the 0.7% of the log...
PA in a descending channel. completed a bearish harmonic and might be printing a bullish one now. RSI will tag 30 and go back up to 70. Watch for flip in premium to positive for swing top confirmation.
Looks like a Wyckoff distribution range with a failed rally, UTAD. PA tested supply line several times, top of range and was rejected. Break down from a falling wedge. First target is $40.4. Falling out of the range might start a mark down.
In an ascending channel, testing support. Ichimoku twist offers low resistance upward. 12H RSI trendline broken. 12H MACD pointing upward.
Break of the channel downward will mean a continuation of the ALTs run.