$SCR is forming a Bullish Fractal on the 4h and 1h charts. recent move shows Fibs bounce on .5 thus indicating continuation. Trendline Support and resistance on the daily (shown in Solid Blue lines) show resistance on bullish move at around 25% gain.
Descending triangle bouncing on support of 50% fibs
If Breakdown there is possible support at the 61.8% but more likely a dead cat bounce between 1770 and 61.8 fibs.
However, Consolidation at the hypotonus of the Descending Triangle could indicate a break-up which if fulfilled could see 2700 area.
LINK cup n handle on 1h charts. Resistance points until top are:
R1: 0.00009024
R2: 0.00009725
R3: 0.00010132
R4: 0.00011015
Expect handle forming to start at R3 or R4 to retrace to between 0.00008000 - 0.00007800
Break out from handle should top at between 0.00016720 - 0.00017382
time to R4 est: 7-8days
time to breakout top: 50-60days
LT channel resistance and support points seem strong as BTC is hitting ATH. possible large scale correction imminent. Wave show top of 4 hitting res of LT channels.
If channels hold and wave 4 is correct expect retrace back down to 16600 area. indicated by 50%-61.8% fibs and 5th wave.
If the trend support trendline is broken the wave will be a 3 point wave. indication of 5 point wave is present by points 0-1 being much longer than the rest. The expected price point of 3 point wave settling at 61.8% -50% fibs this will be a good entry point. The expected price point of $500 USD if 5 point wave before recession into points "ABC"
