From current analysis, it looks like we are in the 5th wave of this rally but not quite done yet. Comparing the previous rally from August to September... the levels of the wave 1 and wave 3 are similar to the current rally. Trying to estimate the end of the 5th wave, I looked for the level reached in the last rally which was just above the 4.76... RSI levels compare nicely to previous rally as well. The ~130 level is also an important level on the weekly and monthly charts as well. I assume we will see a slight pullback on ~100 but if history repeats itself, then we should push through and break it this time.
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Pennant closing, if it breaks up we should be headed to challenge the ATH next.Note
Sorry, wrong exchange, but similar pattern on both Kraken and CoinbaseFYI
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Broke out of triangle... not done yet!Note
Looks like a pennant flag.. measured move from pole is ~101.. if we break the previous high, new target is ~110! (might not make it to 130 this time!)Note
Important levels to watch out for.. assuming we stay bullish :) Note
Moving to ATH! :DNote
Broke ATH :DNext 108
Trade closed: target reached
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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.