... looks like it's making another run up through the cloud.
Last time it hit the ATH after 3 days. Reckon it may have another go at this, presuming it doesn't get REKT by a BTC run.
REALLY hard predicting these days which Alts will get punished and which will rise in the tide when BTC runs.
I reckon LTC has the recognition and "brand confidence" to carry the...
When it breaks out of the 4-hour cloud I'm game to take a position.
Strong recent volume indicated the beginning of a new market cycle.
An entry after the break-out (around 4800 Sats) would still see a 200% gain back to the twice proven ATH.
I believe this will take off *after* the impending BTC pump... when BTC settles, she's gonna go.
My 2 Sats.
One of the beautiful things I love about Ichimoku clouds as an indicator is that you can "zoom in and out" temporally to continue to have it be a meaningful indicator. This chart is based on the 6-hourly, and when we zoom out to this time scale we can see much more clearly what challenges lie ahead. ("The Next Gate")
Having finally pushing solidly into the cloud...
Continuing my early morning chart pattern studies...
Is EthLend forming a Cup and Handle... or possibly are we seeing an Adam and Eve Bottom?
Maybe it's neither of these, and watching what happens could help us learn about these pattern formations.
Woke up early to see if BTC had remained in the 4-hour cloud overnight... which it had not so the verdict is still out on that one.
Saw a classic Bullish Flag on LTCBTC and went down the rabbit hole of different chart patterns and picked up what I believe to be a Head and Shoulders on ZEC. (See: ...
A Prayer to Saint $8400
Oh, Great 4-hour chart, with your Cloud hanging so heavy over Bitcoin,
May we see the Resistance we currently meet turn to Support.
Should we find, in 24-hours' time, you continue to rain down upon us,
Stormy skies are ahead and the converging wedge may drive us to depth unseen since before last Halloween.
Please, great Saint $8400... Let...
... should be *very* telling with regards to which way things will go.
A full 4-hour candle closing in the cloud would indicate significant strength towards the return of the Bull Market.
Further retracement to the $8k level (staying below the cloud) would signal pretty strongly to me that we may not have seen the last of the downtrend and that the recent run up...
How do you predict the top of an Elliott Wave when it's uncharted territory...?
Of course "past performance is no indication of future results", and can it give us a clue?
I'd love your engagement, opinions, reflections - not just an "I agree with this idea". What do you think? Does what I've done here made sense??
Onwards and Upwards, my Cryptonaut friends!...
For the broader perspective (daily chart) of the bullish wedge (aka "flag" or "pennant") that's been forming early December have a look here:
Zoomed in on the hourly for the last two weeks, we can see a wedge within a wedge (is that even a Thing?) that in just the last day and a half has broken through the resistance and...
Didn't call it right last night... live and learn!
On both the daily and the hourly, $11.4k is showing as support... on the 4-hourly it's showing as resistance!
Keep watching the Cloud on all three to see which way this sucker's gonna break!
Onwards and Upwards, my Cryptonaut friends!
Any/all donations as a sign of appreciation for my insights would be...
After breaking the resistance that has held for two weeks, BTC appears to be forming a new bullish uptrend.
On the 4-hour it is holding in the cloud now quite nicely, and I suspect the solid support we've seen at $11k USD (also the .5 Fib on retracement) may be the lowest we see BTC ever go again.
Onwards and Upwards, my Cryptonaut friends!
Volume spikes on the last two candles look to me like another set of waves is incoming - only time will tell!
If BTC can close the daily in the cloud we may have sunny skies ahead.
Watch closely to see if a "1-to-5" Elliott Wave continues to unfold. Closing above the .5 Fib (~12.5k USD) and the .382 (~$14k USD) Fib in the coming days could see us soon testing...
There is big-time resistance around the $11.6k USD price - conveniently this is RIGHT AT the .618 Fibonacci versus the ATH.
Until we see it break through this and into the cloud on the daily, the verdict is still out... (can see it on the hourly as well)
If it continues to meet too much resistance I would expect it to fall to the next Fib level - .786 - $9k USD.
After that massive Elliott Wave (1-2-3-4-5), I have shown the levels of support and resistance on the down-trend.
It has now broken through this level of resistance and the cloud on the 1-hour.
I would expect it to start another impulse wave from here...
(*EDIT* The purple band is a bit fiddly to get right. PLEASE - adjust the scale on the right-hand side until the ALL THREE of the "3-4" lines are across it. THANK YOU!**)
ETH travels a channel over time from relative weakness to strength and back again against BTC.
On a log scale you can see the market cycle beginning a third very predictable ramp right now.