After we got back to parallel channel the price was starting the falling wedge. Now we are almost on the end, especially on 5th wave and near the red support zone. If price will breakout and confirm falling wedge pattern we could look for a rezistence trendline of parallel channel as a TP. We must be carefully because on Waves this pattern a few times failed.
On the chart We can see completly 1-5 elliot wave and finish correction with wave C which ended near the 0,382 fib. retracement and near the green zone. Now is forming next 1-5 elliot wave structure. We must wait for breakout red s/r zone. Only impulse wave 3 rd or wave 5th can broke this s/r zone. If the price will be over the red s/r zone we can grow up.
Despite that most of altcoin are strongly bearish on the chart of Moneru we have nice bullish pattern. We can see falling wedge and now price must consolidation before the breakout. Other details are on the chart.
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As we can see the 0x is in symmetrical triangle. We finished wave D and the last wave E waiting for us. In case that we will breakout the triangle in direction up we can go to blue rezistence zone. Thats zone may be TP. We must be carefully about move direction of bitcoin because bitcoin is a boss!
It looks like that bitcoin is in falling wedge. There is important zone about 7400$, from this zone the price should bounce up and after confirm pattern we will go up. This may be bad if we breakdown this zone about 7400$.
We finished 1-5 elliot wave at strong support (red zone) and started SHS pattern. We must breakdown the neckline which confirm this pattern. Possible end of ABC correction and TP may be about green zone.
On the chart we can see two triangles. The old triangle (1) was breakdown with a huge dump, then the price growed up and made the triangle 2.
Now price breakdown triangle 2 and support about 7500 $ waiting for us. Will be the same situations as on triangle 1 and we going to continue up? In my opinions this is one of the many possibilities in future direction of bitcoin.
The price was confirm the falling wedge pattern as a 3rd elliot wave. After we maded the correction (4th elliot wave) to blue s/r zone and next we bounced up and completed the 1-5 elliot wave. Now we are at ABC correction which can end about blue s/r zone. After we will finish ABC correction we should going up to red s/r zone.
There was a big pump to up as a 3rd elliot wave. Now must be correction as a 4th elliot wave, propably we will touch to red s/r zone. From red s/r zone we can bounce up to blue s/r zone and this may be 5th elliot wave. If we finish 5th elliot wave then must be ABC correction.
Comment and discuss if you want.
On the chart we have parallel channel. Now the price is at rezistence of parallel channel and now must consolidation or slowly go down (in red zone) to support line of parallel channel. After that we can bounce up to rezistence of channel and next we look about the green s/r zone.
There we have 1-5 elliot wave + ABC correction.C wave must end on green s/r zone or maximally at blue s/r zone. Now we can bounce up from green s/r zone. We must cross red s/r zone, after that we can grow up more. On RSI we are at extremly zone, under 30, what means that we have lot of space to move up.
XRP crossed the down TL in triangle and then price went to blue s/r zone. Now price can bounce to up from blue s/r to first TP green s/r. Next we can go up, to red s/r if price successfully cross green zone.
We should going up because on the chart is confirmed falling wedge pattern.The first we need cross up the blue s/r zone and then we will must bounced to green s/r zone, which can be TP. We must be carefuly when price will cross EMA 100,200 and blue s/r zone. At this zones price can slowdown or go down. Dont forget work with SL.
Hi, on the chart is possibilities to go down. The price bounced down from strong s/r zone and next role reversal pattern was create. We can go down to next green support and that may be the TP. What can help us is, if EMA 100 will cross the EMA 200 and the price be under EMA 100,200.