I've seen predictions of 100k, and with BTC anything is possible. But this is what I see. The concern for me is that BTC has become much more correlated with the stock market & it could be suppressed for a longer period. 29-32k is a strong buying range regardless.
At this moment, this is the line you need to draw. The diagonal line is actively acting as support. If BTC breaks downwards through the diagonal support, 36.3k is the next area of support.
My guess is that that huge scam wick was not a precursor to a future move up, but just the opposite. I think It was a move to liquidate any leveraged short positions before the next leg down. The best course of action is to sit on the sidelines & protect whatever capital you have left. Maybe scalp some trade on a relief bounce, but outside of that, just let the...
I've adjusted the model. This is what I feel like could be more accurate. The structures are mirror images of each other. GL
Look at the structure within each box & each circled area. They almost mirror each other. It's something to keep an eye on, that may give insight to a future move.
Just an observation. Striking similarities, although LTC did get the pump like it did the previous run.
At a critical support level. Something worth watching. I think we'll get a move up from here, but what do I know. I just draw lines.
AAVE at some resistance here. If it were to break thru, look for a retest before a continuation to the upside.
If you're into buying the dip, this could be a prime spot for it. Each dip has followed with a higher high.
LTC retesting the trend line. Looking ready for takeoff. Could be a significant move.
BAL at a support level & trend line. I have a short term target of $27.45.
ADA is at a strong support level & looks to have formed a double bottom. Something worth keeping an eye. ADA can really fly once it get going.
AOA nicely formed bull pennant. If the structure plays out, the target wold be upwards of 50%. Use SL's to protect capital.
COMP looks ready to explode. Bouncing of a strong support level & MA's crossing. It looks like a good entry point.
If we are about to enter a bull market alt run, here's one to keep an eye on. It makes huge swings. Back in April it went as high as 0.47 & with an ATH of $1.32, this one has plenty of room to run.
KAI ready for a move. Could be upwards of 60%+ in the short term. Use SL's as always.