Price action was rejected yesterday by the 2H 50ema and slid down the upper railing of the descending but did not break back into the channel. Price bounced of the channel bounced of the channel which is bullish . Price action is likely to break up over the 2H 50ema. Another rejection is very bearish . break up from triangle has a target around $49. A breakdown...
More bullish patterns emerging. Pattern replicated in other coins including BTC. break up target $53.77 . Can get rejected at the neckline and form a handle for eve's bottom, :P .
Testing 4hr 50ema, testing channel again. Break above 4hr 50ema is bullish because it has been the main dynamic resistance in this period. rejection will send price back into the channel.
We can be in a enormous bear flag with measured move at around 5.5k This explains the current bullish micro trend. Macro trend is bearish. But trends can change, and already the fallen wedge was touched five times by the price action.
Break up could reach the previous high.
Diamonds are trend change pattern. The diamond shape is intersected at the apex by the price action, which happened to be the large pump and dump. The diamond reversal pattern is present in BTC and other assets, as well.
LTCBTC recent price action looks fairly symmetrical, the rising part is mirrored by the falling part in angles and structures. What if the pattern continues and the large dump is mirrored by a spectacular pump? There is a fairly sizable bullish divergence on the RSI that has been going on for quite a while.
Double bottom. Will probably test the 4hrs 200 ema. If not rejected will reach the wedge target at $49. If however rejected will drop to the bottom support of the faling channel.
or a bull trap Bullish signals, double bottom, high volume, end of an ABC correction, break out of a falling wedge Bearish signs, didn't break out of the falling channel, was rejected by top resistance, and the 4hrs 200ema which seems to be acting as dynamic resistance for a while. To confirm a bull move, price action must break above the 4hrs 200ema and bounce...
BTC seems to like inverted head and shoulders. It did quite a big one on the 25th that did not play out perfectly, missing its measured move considerably. Now in my opinion it is forming a small one. Will it play out? Technically everything is bearish, so if this ih&s plays out, price action will come back down. So short term lone, long term short.
breaking out of a falling wedge. The combination gives potential to a bull rip or a 5% failure and retest of the falling wedge.
Fractal mirror of the rising section of the price action from the bottom. Rising wedge up, widening wedge down. Notice a significant bullish div at the 1hr time frame (crimson lines). 4hr 200 ema is acting as significant dynamic resistance and the fractal top rejects of the 4h 200 ema.
Price action in a clear downward channel. 15min 200ema (purple) has been dynamic resistance for a while. Price action will try to meet the 15min 200 ema again and the RSI 60% minimum, 70% maximum.
timing is not accurate. The straight down path is five wave down, 3.618 of wave 1. The other paths are ABC corrections. Keep your eyes peeled, high volatility at this time.
broke down from falling wedge and now possible retest. Price action forming a bounce (blue arc) on the black longterm support line.
Or is it in a big rising wedge about to break down. some bullish signs, broke above the 1 hour 200 ema, bounced hard of the previous mid term resistance line (circled) Bearish signs, broke above the 2 hours 200 ema but now dropped below it and forming a bearish engulfing candle. 4hrs 200 ema is still far away, apparent rejection from the previous midterm...