Based on channels, target break outs and harmonics. RSI bottomed and ready to test upper channel resistance.
Break out from the falling wedge was sluggish with low volume, I believe the price action will hug the support of the large triangle until it breaks out.
Today three patterns have been reinforced and are in play. Price bounced of support of the large triangle today and price broke out of a fallen wedge and a fallen channel. The support of the large triangle, is also the support of a rising channel. The breakout target of the triangle, is the top rail of the rising channel which coincide with bearish shark...
For the last couple of days, it was thought that the price action was within a fallen wedge and expected to break up. In the recent hours a break-out occurred but not before forming a perfect bearish gartley harmonic. The target of the bearish gartley fits into a channel that the recent price action delineated. The fallen wedge turned out to be a fallen channel...
BTC dropped sharply today and bounced off the support of the fallen wedge after being rejected by the resistance of the wedge yesterday. The shark pattern has morphed, which is not unexpected because harmonics do not play out as predict often. Harmonics are are traded after completion, but fitting a harmonic in your trend estimates gives confirmation and...
BTC is still within a rising channel, and has formed a fallen wedge. Break up of the fallen wedge will put the target at the resistance of the of the rising channel. After which it will fall to the lower fib line and bounce up again to to complete the bearish shark pattern.
BTC got rejected off the "average price" trendline. Last two time it got rejected it dropped significantly and was supported by the green "major support" trendline. The black "major resistance" line needs to be broken for BTC to pump to +16K above the "average price trendline". The Black resistance line defines the price action of BTC for months to come. At the...
Some projection I made of possible LTC price action.
Looking slightly bearish in the last hours. Might test the triangle's support then go up.
Dominance was rejected at the .382 fib which is also the resistance of an upward channel that dominance has been in. The RSI is in a rising wedge and looks like it will breakdown. This could be the start of the 2019 Alts season. If dominance breaks down from it's channel, it will drop further than the .618 support, because the target of the channel breakdown is...
In my previous idea below, I postulated that a similar fractals is being repeated right now to that around BTC ATH 2018.Currently the RSI of the ratio broke down from an ascending triangle, as it did before around the 2018 ATH which resulted in the BTC to LTC ratio plummeting. If the BTC/LTC ratio fractal plays out like before, LTC price will rise while BTC will...
Enormous bullish crab pattern fits perfectly with very unique support point(blue circle) at 5334 mBTC. The timing fits with my other estimations of BTC dominance reversal time. but it's possible it can reverse now and never drop below 6020. Will the harmonic pattern dictate the price action? we shall see.
Silver prices have shot up 20% lately. If we time compress silver price action we can see similarity to LTC's price action. If LTC is a fractal of silver, then LTC will follow silver and go up. The stoch RSI for LTC weekly is bottomed out and looks like reversing. Meanwhile gold shot up only 12%, so silver outperforms gold and therefore LTC will outperform BTC.
Starts to look bullsih hopefully won't come back down again. Target $81
Again BTC tricked everybody did a u-turn and shot up. It doesn't matter it broke down from a large triangle, it doesn't matter it formed a reversal diamond and went the other way, it doesn't matter it broke the neckline of a huge head and shoulder, because it's BTC and BTC does what ever it expletive wants. So price action back into the triangle, what's next?...
I hope I am wrong.
Not necessarily doom and gloom, but maybe a major pump not far in the future.
This is based on possible harmonics that fit the price action and fib lines. There is a bullish ALT bat (purple) and bullish bat (blue). The likeliness that it transpires is not high. Harmonics are very hard to predict before they complete. It shows a drop to 2k then a rise to 60k. This is not a bad scenario for traders because it offers extreme volatility and return.