If you read the last post, you may have been wondering where is that BULL deep crab he's talking about? I realized it wasn't obvious in the chart. This chart should provide a better view of it on 4h timeperiod.
Interesting facts regarding S&P500 retracement levels measured from 2009 financial crisis low to ath.
Here are some possible outcomes as BTC attempts to break out of the descending broadening wedge. Which way do you think it will go? Please explain in comments.
FTM did punch through descending broadening wedge resistance, forming a new higher high. However, the bull deep crab pattern it's in typically will do a deep (near 1.0 or greater) retracement from the initial point. The shape of the cup may looks something like the yellow path (or even lower)...
Strong upside potential as SHIB breaks out of smaller descending broadening wedge. If it can break through the large descending wedge, this could rocket price upward 30x+. Traditional wedge pattern lining up nicely with bullish harmonic.
31x potential gains if ETH breaks thru descending wedge. This would put ETH ath at ~7000
BULL Navarro200 entry Formation of INV HNS underway
Inverted head and shoulders bullish AntiGartley pattern currently testing descending broadening wedge resistance line
ONE (Harmony) 30x bullish harmonic potential into 2023
This harmonic analysis shows the major patterns at play over the last year, and potential BULL/BEAR outcomes with key pivot area to watch.
There are multiple bearish harmonics at play, currently showing a strong bullish retracement that may last through next week and is helping to provide lift for crypto. However, the bullish retracement not expected to break out of the main bearish downtrend. Phoenix and god mode 1D timeperiods show continued local bullish trend going into next week.
Using several descending broadening wedge pattern breakouts, 100k is possible.
There are multiple bullish harmonic patterns now in play for ETH on 2d timeperiod, indicating potential targets 7k+
Several bullish harmonic patterns on 1W and 2d timeperiods indicate trend reversal is underway.