Polkadot forming a long-TF ascending triangle on Daily
2nd bottom & re-test of the ascending triangle seams to be confirmed by:
- RSI bottomed and about to breakout (same levels as mid-july 2021 selloff)
- Current overall market reaction
- 23.6 Fib level acting once again as nice support
- MA 100 & 200 seem to re-create a similar pattern as during mid-july...
Monero is showing strenght during the last weeks, compared to the general crypto market.
So Macro looks strong for XMR even during these times of Crisis.
As for the short-term price, we could easily reach 300$ , before consolidating sideways for a period.
The price-target for the next 4-6 months should be around 500$ , since we clearly broke out of the ...
Just Extremely speculative Food For Thought
What if the Real Blowoff Top Is yet ahead of us, and we are in a similar situation than 2016-2017?
If this Scenario where to play out, it would blow off Brains
It seams that crypto has bottomed for the short&medium term. That would be definitely confirmed if the potential inverse h&S pattern would play out as described bellow:
Etc, seams to be forming a potential, h&S pattern
If this scenario will play out
the first Short term-target appears to be approx 31$ Around the long-term resistance which is the upper...
RuneUSD has pulled back from the upper trendline resistance
The most probable scenario in the short term is gonna be a pullback towards its support around 8.35$, which is an area where i would accumulate.
After this, and if support will hold, we should re-test the upper trendline around 10.73$, before breaking out of the triangle pattern.
If a clear breakout...
As one can see on the weekly each time we reach current levels on EOS we experience:
At least a 30% upside movement
This can be confirmed by looking at RSI level and 3 weekly candle formations forming around the 2$ Levels
In my opinion, even though EOS is a shitcoin, these could be easy gains.
Stop Loss: 2.28$
Target 1: 3-3.12$
It seems that we are about to breakout of the second triangle pattern which XRP formed during the current bull market.
The breakout would confirm an eventual wave 5 of the current structure being formed since beginning of november 2020.
How to trade this?
Wait for breakout of the triangle towards the upside, then buy the re-test at approximately 1.17$
According to this quick analysis of BTC nearing it's next halving which in Bitcoin's history has always been bullish , we are:
1) Seemingly in a new bullish channel
2) Heading for a short term ABC correction which should hold above 8200$
3) Followed by a 12345 impulse wave within the channel topping our last ATH of June 2019
4) Followed by another ABC correction...