well eth finally cooled enough we can get some patterns. we could have a potential double bottom.don't really like giving ideas on weekends since its always misleading.
we are currently in the middle of forming an inverse h/s. its not certain yet but just an idea. if we can bounce around this price (29) a break of neckline should bring us up to resistance line. see if the weekend will be nice to us.
as stated few days ago golden pocket is a good place to buy. we are currently there again. vpvr also as support at golden pocket, we could see little more dumpage towards or quick wicks down. don't be afraid to buy!! this will probably be last time we see under $30. (until bear market)
okay this is a lot to take in. we only saw 1 tiny correction back around march for cake. so only data we can go off of. if we over lap that pattern to the current pattern we might be able to get an idea how low we can go before another leg up. so far the pattern is pretty close to what we are seeing now. so we just add the tail end. just an idea.
after big pumps tough to do accurate t/a. but on lower tf we are in a rising wedge. if btc.d continues to fall then we will see bigger gains for most of market but there is a correction on the horizon but when? if we break resistance line then its bullish and we could just consolidate for a few days then blast off again.
what if we have a bull flag on 12 hour tf with target of $52? or should we just dump and correct?
no surprise if eth corrects soon. i think we will come back down to retest breakout area and flip it to support ($2600). and to add confluence to that anytime eth has been oversold on daily rsi weve had a pullback around 25% which puts it at.....you guessed it $2600 area. and to add a 3rd indicator the fib golden pocket lines up with $2600 or the retest of...
looks like we might finally consolidate around the $40 mark. by the end of the week we will be breaking back down more or testing ath and $50. i personally don't think we will go below $34 again unless we get a massive short term crash. a lot of support at $34. just my opinion.
we have a potential double forming on cake. only bullish when we break neckline. we should know more in a couple days.
vechain is currently trying to breakout. testing ath this week i think.
some of you wanted an update. hard to say what exactly cake will do being in alt season and all. but eventually we will see a pretty decent size correction, first correction to the previous breakout of $36.50 roughly and it lines up perfect with the fib golden pocket. just gotta take one day at a time, alt season can be crazy and have the unexpected pumps.
what do you guys think? we could possibly see another break by monday. do you think cake can break out and push towards $50? or is a time for the pullback? but we can look at this pattern as a bull penant, an ascending triangle, or a double bottom. all 3 give us roughly the same price target which also lines up with a fib level. so we do have some confluence to...
eth is continuing on its way to target. might see a pullback to $2600 area first though. next fibs at $2800 and $2900... $3000 is next. fibs are really the only thing you can use in price discovery.
cake is killing and passing targets like its nothing. only t/a to really go off of is fib levels when in price discovery. $45 is a fib and if we can pass that next stop is $48! until we consolidate or something can't go off of much. maybe a retest of some break outs.
bnb got rejected off the top again. but right now retesting previous resistance. if it bounces here i expect a break in the coming days.