The pattern is not as clean as I would like so I have been hesitant to call this, but I think we are going down another leg and possibly bottom from 2800 to 3300 based on the head and shoulders continuation patttern. This also happened right before we dropped from 6200. if we dont drop within 48 hrs the pattern is invalidated
$BTC is coming to the end of a massive symetrical triangle. Neutral signals thus far, but the direction it takes should be a big move. leaning slightly bullish just because the selling might be exhausted at this point but on the other hand this could be the final blow. targeting 5k if we break upward and 2800 if we breakdown.
I've been calling for a head and shoulders since Nov. 2 when the left shoulder was forming, I was a little off on where the head would end but overall a successful/profitable call. Normally these patterns indicate further downside so I would think we would at least make one more drop to the 5900 area.
Still seeing a head and shoulders I redrew it a little bigger with the new data. but looks like we are about to finish the head and work on the right shoulder. Could be invalidated with a volatile move sometime soon but looks really clean 60% of the way through.
Possible set up i see forming. Will largely depend on how or if we approach the 6400 area but looks very feasible half way through. if this plays out it would mean a very bearish weekend followed by a couple days of upside, ending with a huge drop
After this past weeks close (bearishly engulfing 3 candles and pending descending triangle break) I am expecting the price to drop about 50% within the next couple of weeks. The cool thing about this possibly drastic move is that it could put us in a market environment that could accelerate the price to all time highs and beyond very quickly
checking on ETH after seeing an elon musk tweet about it. It looks like it could bounce pretty nicely in the short term. The concerning thing here is that if it breaks downward out of this huge symmetric triangle it could go to .01 and run the risk of losing all of its value.
BTC is in a bearish zone from a monthly perspective. It is hanging near the bottom of a descending triangle with 4 days left to go. On a positive note, this could create dirt cheap buying opportunities in the 3-5k range within the next 2 months if this triangle breaks bearish. Anything could happen but I think the bulls have given up way too much ground to recover...
From a weekly perspective a bear flag seems to be forming. the RSI is also a little to over bought to indicate that last week's candle was a firm bottom. A wick to 6.8 to 7k is possible due to the bullish nature of last weeks candle but looks to be short lived.
Daily update on BTC, after a dramatic last 4 hrs, it is consolidating at the top of a symetric triangle which is typically bullish. On an accompanying note, a short squeeze is in play as they are near an all time high. If this works out the congested 6800 area could be a target with best case 7150 to hit the 200 ma.
Possible bull flag forming on the 4 hr and 1 hr, I suspect it will make one more small dip before breaking out in the next 8-12 hours. If this plays out some potential targets would be in the 6800 -7200 range. Have to see the momentum it carries before getting any more specific.
I was looking at this pattern for another chart and realized this could match with BTC's sharp price action if it keeps this up. If we accelerate to 3-4k in the next couple of weeks(As we are currently on pace for), this could be something to keep an eye on.
Testing a chart prediction here. This goes alongside a bias that crude oil is on the rise and this being one of the stocks that could exponentially mirror that effect. Havent drawn one of these before but could be considered a diamond bottom indicatating a strong reversal trend to probobly the 50 ma (3.40). Another way to look at it is it is breaking out of a...
Starting daily updates to check my accuracy, btc seems ready to break this descending triangle, could be a momentum shift. the last 2 hammer candles signal nowhere to go but up. Caution could come back down quick though.
I was checking BCH out and noticed from weekly to hourly. This typically means it has no choice but to go up from here and could run out of steam at the moving averages (800) or the next resistance line (880)