The trend is bearish right now, and indicators will also reflect that but gartley is a corrective pattern that plays out with a strong short term reversal.
The pattern is very accurate in terms of fibs as well as text book AB=CD, and there is confluence at 8.8k level. 4H h&s breakdown also targets there.
Stop loss should be placed below X, tp hopefully 0.618...
LTC has broken blue line support on its way up and will likely retest the supports down below.
Why LTC? Some alt coins already headed down. For instance NEO has taken a harder blow and went further down towards the support.
My guess is that LTC is just delaying the dump at this point, but it has a lot of room to go down.
There is a certain risk with this trade, as...
NEO despite being oversold generally and having volatile run ups recently, has been continuously rejected. Even after shooting a crazy wick 20% above the resistance.
On a longer time-frame it is trying to form an ascending channel and it should be generally bullish as long as it remains in it. But short term it will likely seek support a bit lower than it is now....
ETC has been working quite well on 15m timeframe but recently became a bit messy. That is why I switched to 4H timeframe.
As you can see it just bounced of 200 MA support and is ready to continue a bull run. On a lower timeframe it looks like it would dump but its not.
Based on recent performance I also projected a price action in the near future - dashed blue...
NEO has fully completed head and shoulders pattern, meeting its target and bounced off support. (I posted about H&S pattern before in Cryptocurrency chat. No one took it serious, but I traded it and made some nice profits). During the recent bounce it has broken off fallen wedge and is currently in uptrend correction. Holders would love to believe that NEO just...
Daily price action is getting very tight, and we have lots of trading volume.
There will be a Forex expo in Cyprus scheduled on May 22-24, this event could bring some wealthy investors.
After that I expect parabolic movement during June. Remember this is a hodler token, not a hype shit.
I think the best strategy would be cost averaging for the next month during...
Bitcoin just had a nice up move, so I assume we just started a new uptrend cycle.
On the chart we can see a newly formed bull flag, but sure enough it cant go up forever.
We need some support and retracement before we can move up again.
Last time we had a dip on April 6 and it then perfectly returned into the black channel.
Then we had another dip and it followed...
I didnt like when it started falling. but now I'll be looking to add ETH to my portfolio.
The thing is, it has perfectly retraced to support line and gracefully bounced off it. What the hell else do you need to be bullish on it?
It was inflated a few months ago without any real support, but this support line looks beautiful right now.
And one more thing. since btc...
I think we are good for now. bounce off the bottom at 0.225 now its time to start a new wave.
I predicted we should go up earlier. but it has been in correction since the ATH, well it cant go down forever though.
On a larger scale, the chart still remain very bullish since November and shows a clear direction using elliot waves.
Other coins maybe pumping hard...
BTC is struggling to break cyan resistance line.
We might be witnessing a possible reversal at the 144 fibo time zone, also RSI was recently oversold.
It has already formed a tripple bottom earlier, piercing the bb bands, which sent it lower, but it was stopped by the bottom of the flag.
Now it has formed the same pattern again but this time it's already at the...
I may be imagining things, but to me it really looks like a bear flag , similar to that on 2018-04-04 and others.
Anyway I've posted my targets. The purple line btw 0.98% is drawn from the ATH using a 15 minute chart.