Rising wedge squeeze-out soon. Lock in profits and buy the dip.
BTC: Forecast on the Four Hour. Bulls have made a statement surprisingly quickly after months of bearish tone by avoiding a pullback so far and struggling even higher (on the Daily we are well above the Bollinger bands). While BTC is still due for a correction, recent price action indicates the overall market sentiment has shifted in favor of the bulls, meaning...
Bulls and bears still battling it out.
Microanalysis: "Forest for the trees but the trees still make the forest" BTC bulls are petering out on momentum and volume in the short-term and just double-topped, failing a wedge breakout. While the wedge could still break to the upside after a small pullback, it still probably wouldn't see much traction as numerous indicators point to a correction soon. A...
BTC has reached the top of the Bollinger Bands on the 1D, and is due for a correction and a probable bounce near the 14-Day EMA. This EMA has come in as resistance multiple times on BTC's recent big move down, so it will likely come in as support along with prior price structure support. For a more detailed current analysis to include fib and elliot wave...
This is a 1D chart analysis; for further detailed analysis on this prediction see the 4h analysis I just posted using the Bitmex (XBT) chart. BTC has had a phenomenal bullish wave upward. Now there is a good chance BTC will pull back on a healthy correction to test prior price structure support and the long-term uptrend support line shown here before making...
BTC Forecast on the Four Hour: Bulls have defended against a short-term head & shoulders (on smaller timeframes), though momentum is slowing and a bear flag forming here on the 4h. We can expect a correction down to test prior price structure support around 7490 before continuing upward to attempt further bullish elliott waves. Two sets of fibs are drawn on the...
ETH has completed a nice 5-wave elliott pattern and will most likely correct soon.
Continuing from the MicroAnalysis I just posted, BTC is most likely looking for a healthy pullback and consolidation soon. This is one option for flagging out a pattern before further decision-time up or down: an initial ABC correction down to the 382 fib and the prior price structure support near it before attempting higher. Expect multiple head n shoulders and...
Microanalysis: "Forest for the trees but the trees still make the forrest". Bulls losing steam in the short term. Protect your profits.
LTC has been lagging many of the other coins and looks to be gearing up for a run as long as BTC continues to hold up for the time being. Currently it has been consolidating on a big 786 fib support, slowly prepping its engines. If a breakout with enough volume occurs, LTC could be looking at a pump as high as $160 (35-40%) before bouncing down off the next major...
Microanalysis: "Forrest for the trees but the trees still make the forrest" BTC just failed another momentum-building attempt, being wicked down hard beneath 7k and bull flagging with very little strength on the breakout. While there is still a decent chance it will continue higher to test of the top of the wedge we've been in, and could even temporarily break...
Taking fibs from the full price action (wick to wick) of its last major dump, EOS is now wicking down directly off the 618. Unless BTC shows more bullish strength on smaller timeframes, which is currently waning, EOS will have a hard time clearing the 618 and running for the 786 and the prior price resistance up there. The best offense being a good defense,...
ONT is on its 5th elliott wave and due for a steeper correction soon. Taking fibs from the initial pump (the black fibs), ONT has hit common targets so far: First the 261.8 and then the 500 extension, each receiving a decent pullback. Now a safe exit would be the 700 extension very soon, verified with the second set of yellow fibs where traders will be looking to...
Prior price structure support, long-term trend line support, and 141.4 fib extension. Buy zone: 5900-5500. Buy strategy: Slowly average in; depending on momentum of selloff. If fast selloff: Wait to buy a larger percentage towards bottom, and vice versa. Possible bounce from buy zone back up the 100 fib line to complete a pattern mirroring the prior price action...