BTC has broken through some resistances after making what seems to be a double bottom A & E pattern. Price has dropped to the bottom boundary of a channel which also intersects with a horizontal which was previous resistance and should now act as support. Next major resistance is around 11.8k. After that there should be a decent correction resetting some...
Since price failed to capitulate lower near the 5.5k-6k range and seems to be coiling up now. It is poised for a move in the upward direction near 7.8k-8k. It will almost certainly be rejected at that price and come back to test the 6.5k-6.7k support. It could bounce between these two levels or possibly make a play for 9k. After that is anybody's guess. But fail...
I once saw a cycle chart by @lowstrife (twitter) on BTC that seems to still be for the most part valid today even. I decided to play around with ETHUSD chart and found that ETH has rallied twice around 27 December. I made mine on the 3D chart. Each cycle is around 122 bars. If this is true it may be possible for ETH to dip one more time despite the bull flag at...