One and a half years since BTC was first around 3000 (JUNE, AUG & SEP 2017). 2980 $ was reached the first time on June 12th 2017. Since August BTC was above 3k.
On JAN 20th the wedge was left downwrds and now the support around 3.5k was also broken.
I expect a retest of the 3k support with a (strong?) rebound that may lead back the 4k if not close and above 5k.
The crossing of this line could mark history for crypto. Veri is still one of the unknown of the potentially big cryptos. Volunes started to increase lately. New highs without looking back down below that line? Who knows...
I will stay patient and wait.
An inverted head and shoulders formation is building up like a powerfull yoga exercise. We just have to be patient a little longer - that's all.
Trade at your own risk & make your own analysis. Do not get involved based on this Idea only!
A little risky but... we have a trendline confirmation as long as...
Wednesday: above 1225 USD
Thursday: above 1300 USD
Friday: above 1340 USD
Saturday: above 1400 USD
Sunday: above 1450 USD
To be continued...
VERI has reconfirmed the wedge at 12 mBTC yesterday. Now the way is open for up to 20 mBTC inside the wedge.
Disclaimer: This is just a trading proposal. Any action upon this proposal will be at own risk. Do not buy into VERI just because of this Analysis.
....or just a trap?
QTUM looking good as it seems to exit the wedge. Also the price is above 19.5 mBTC. (This price range has some historic importance.)
It is too early to call as certain. But if you're willing to bet some then this is a good candidate IMHO.
Qtum chart situation is quite interesting. There is the chance for a nice reaction. If it falls further then it might go down to the all time low.
I tend for the bull side. But this is more or less a 50/50 here...
However volume is very low. I guess if crypto (lead by BTC) regain popularity the volume will increase. The result: big green candles!
The break-out try begining of march can be booked as failed (X). Retest of the lower trendline seems to be ongoing (A).
What I expect:
...is a successful retest (A) with a more or less direct reaction (B). This should directly pierce through the upper line of the wedge back towards higher grounds (Target: 10k to 12k).
Let's assume this...
6 months of wedge for Silver.
The lower line of the wedge is holding. Silver may pick up momentum from there and leave the wedge towrds the 20 USD.
Another yet bullish retest of the trendline around 15 USD. If the retest is a spike (intrady retest) then I would expect an even harder reaction which might pierce throught the wedge towards...
This is a 'without words' Idea. Look at the arrow. Maybe the long awaited bull move is near.
Why the idea & why now?
Momentum is down. News are bad. "Binance hack" news were the latest ones. Even if there are no special good news the lack of bad ones as we had them over the last 2 weeks would be enough to allow the roots to grab a halt.