OMGBTC 40%+ move? Daily bullflag getting squeezed out sat/sundayPossible bottom of bullflag established on the 31st may, the same time price broke through the bleed line. After the next move up to find the top of the flag, price moves down again towards the support @ 1537 sats but does not touch it. Is accumilation coming to an end, ready for the move up?
Accumilate between 1537 and 1600 sats.
I bought in @ at 1573 as i zoomed into the 15 minute chart the bleedline had been broken and price had found support around 1570 sats, RSI also showing higher lows on this timeframe. Support flip also confirmed on 1h and 4h charts.
stoploss @ 1518 sats.
Risk/Reward - 13.04 for final target
Take profit 1 - 1714
Take profit 2 - 1868
Take profit 3 - 2102
Take profit 4 - 2290
Let me know what you think.
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Altcoinsvsbtc
Bitcoin Dominance & Altcoins UpdateI was looking at bitcoin dominance today with respect to the altcoins. As cryptocurrency traders, we trade with respect to bitcoin not USD, what we want in the end is more and more Sats. So, here i see few bearish signals which is showing us to move into altcoins on bigger timeframe, as it is time to gain more sats than usd:
1. If we count the wave structure, it is showing that the correction wave is completed so we can start looking for other impulse to the downside.
2. Rising wedge which is a bearish pattern in between the green and red lines, and it is exiting from that wedge pattern to the downside.
3. The blue trend line which is acting as new resistance now.
4. The mirror zone at 67.4 on the chart and currently it is below that, mirror zone can act as trend changing zones.
We remain bearish in BTC.D for now and bullish on alts, but we always remain active to be wrong anytime and to correct ourselves with the market. If any of the above signs or few of them starts to change we will change our decision and move into the bitcoin to maintain our sats.
Happy Trading.
#VITE/BTC looks promising 28% potential ProfitHello guys VITE Brokeout of the resistance trendline with double bottom and H&S patterns.
Started making higher highs which means it shows the reversal in Trend.
ALTS with strong fundamentals do good because of HYPE.
Mainnet has been announced on MAY 27 we can look for 28% potential profit within the next 1 week
ENTRY: 127 to 133
TARGETS:
139
148
154
163
STOP LOSS: 121.
Risk reward: 1:4
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#PEACE
Bitcoin Dominance Testing Key Support Right Now!If you zoom out on the bitcoin dominance chart (BTC.D) you'll see the importance of this searing hot white trendline — and the markets are battling once again for direction. There is a possible double top (indicated by the hammers) and price is resting above cloud on the 6 hour chart. A push below the trendline and into the cloud signals a drop in bitcoin dominance. Which means an alt coin rally could be soon.
Altcoins performed better after the last Halving than BTC/USDDuring the next days after the last halving the Alts market cap more than doubled and BItcoin's dominance dropped quite a bit. It will be interesting to see what happens this year though it seems that the interaction has changed with altcoins and Bitcoin been more correlated perhaps due to the larger FIAT pools with stable coins. In 2016 most altcoins had to be adquired via Bitcoin (ETH/BTC, XRP/BTC, LTC/BTC, etc) and this year this is not the case anymore since there are many altcoins paired with stablecoins.
Digibyte/Bitcoin Slaying the Chart! DGB/BTCAddressing the potential for an extended 5th wave and further upside from the DGB/BTC pairing. Here is a quick Elliott Wave count and invalidation point as to when we will fail to see further upside by dropping under 218 satoshi's. The argument for the extended 5th wave is that it appears to be a 1,2,1,2 scenario in the macro wave 5 and also the wave 3 if it's not extended just measures 1:1 ratio as wave 1 which gives a strong argument that its the shortest wave or too short to be a 3rd wave.
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