The ratio broke down from its bear flag. The measured move using classic pole flag TA is 116. This corresponds to 8620 mBTC, for LTCBTC pair, the inverse of the ratio.
Take profit between .386 and .618 retracement. $61.61 is the maximum,
but the #$#% correction can go deep to $55 which corresponds to a 0.5 fib retracement and a major support zone. I have drawn 2 possible paths, blue boxes are buy zones. the upper box is the safest. Because there is the dire possibility price drops further to $52. However my bias is heavily to the bullish side. My opinion is that it will go up from here, but I...
Debating whether it breaks out of ascending triangle at $64.4 and bounce of resistance of rising channel or get rejected at $64.4 and remain within the ascending triangle. Harmonic points to a break above $64.4 . However, it is very difficult to project harmonics prior to their completion. The price action completes the harmonic, the harmonic does not lead the...
BTC is known to disobey technical analysis such as rising wedges breaking up. On many occasions TA was clear as day and the targets were sure, but bitcoin did a U turn and messed everything up. Why? Usually there is a subtle hint. Early in September I noticed a huge head and shoulders forming. It's measured move was 4k. The head and shoulders was part of an...
The measured move of the break up of the ascending triangle is $71 which corresponds to the daily 200 ema as well.
BTC to LTC ratio the inverse of LTCBTC is forming a bear flag. This means LTCBTC is forming a bull flag. There will be relative weakness of LTC relative to BTC in the coming days. And it is expected that BTC will move upward, the motion of LTC will be upward but a smaller pace. The bear flag points to a possible pump of LTC after the 15th.
plus bullish divergences. Possible paths drawn. Possible harmonic drawn. Long.
BTC showed weakness recently dipping again below the 4hrs 200 ema. It is now resting on the daily 200ema. So we are back to the same situation since a couple days ago, sandwiched between the two ema. A bullish divergence formed at the lowest wick, This could be the first leg of a W that will take us up. Or it will go sideways. A dip below the last lower wick and...
Don t be fooled, whats happening is not a dump but a retrace and retesting of the ascending triangle that BTC broke out of. Price action is considered moving upward to 10k.
LTC showed high volume and volatility today, price reached $66 in a matter of minutes from $62. There was a scam wick prior to the pump that I am sure hurt a lot of traders. Scam wicks proves that whales are unloading other peoples longs by triggering these peoples stop losses because price is eventually going to moon. All the price action structures points up. I...
BTC surprisingly and violently bounced of the 777 daily ma, which i put arbitrarily on the chart in the past because it crossed the pivot of my gann fan. Why the 777 daily ma acted like support? I don't know, maybe some whale likes playing slots. In my past ideas i said BTC going to $7100, I said that nobody should feel bad if it drops below the magical 7500...
Don't know if this is even legit. target 11.9k.
It is being supported by the daily 200ema and the 4hrs 200ema is resistance, It is forming an ascending triangle and breakout is not far in time. One can see that the Gann trendline in green has provided perfect support. It is clear now that we have been in correction since the mega pump from 7.4k which now evidently was the bottom. There is still the...
LTC showed strength again today, breaking a downward widening wedge and retesting again the rising wedge it was in previously. It is becoming apparent that the correction from $64.3 is over and a the upward wave 3 has started. It is becoming more clear that alts season has started. It is possible that we can reach new ATH for this year.
Rising wedge retest rejected, bearish engulfing candles, RSI bearish divergences. Target of breakdown from rising wedge is $50.7, but $54 more likely bottom, must watch $57.4 because it is strong support.