ACHBTC incoming wave 3?
Ach had a nice period of accumulation against btc on HUOBI, way before getting listed on coinbase.
That accumulation ended with a 10 000% growth in a short amount of time, mainly due to the low marketcap.
After that it corrected around the golden retracement ration.
I suppose we are now in wave 2 against btc.
By looking closely one can notice the resistance line has been touched multiple times, the more it's tested the more likely it breaks.
If we break it, it's likely we complete the big timeframe cup and handle and blast off for a wave 3.
Of course if we fail to break the resistance we could crawl down lower, but at this point of time things point to the upside.
The USD pair has a similar pattern..
The post is for educational purpose only.
That accumulation ended with a 10 000% growth in a short amount of time, mainly due to the low marketcap.
After that it corrected around the golden retracement ration.
I suppose we are now in wave 2 against btc.
By looking closely one can notice the resistance line has been touched multiple times, the more it's tested the more likely it breaks.
If we break it, it's likely we complete the big timeframe cup and handle and blast off for a wave 3.
Of course if we fail to break the resistance we could crawl down lower, but at this point of time things point to the upside.
The USD pair has a similar pattern..
The post is for educational purpose only.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.