CryptoFlier

CryptoFlier

For the time being, it appears that we have broken out of that lengthy descending (bearish) channel...with that massive short squeeze to the 10.2K region, which caught everyone by surprise (bears and bulls alike). Since then, all of this seemingly "sideways movement" has actually been a slow but steady climb to form this ascending wedge pattern. It has been...

CryptoFlier

We've been riding this descending wedge (reversal) pattern for the past 24 hours or so almost perfectly, which should culminate in a breakout (hopefully) to the upside as we near the end of this Elliot Impulse Wave (12345). "Mr. Ichimoko" still says we're still in a downward/bearish trend, which impels me to follow the KS (red line) indicator and be very cautious...

CryptoFlier

Apologies in advance for the crowded chart (lots of things going on here). We appear to be ranging between EMA 200 (tenuous support) and 11.2K (strong resistance). "Mr. Ichimoku" Kijun Sen (KS) says we are still in a downward trend (see red KS line). Similarly, the MACD on the Daily suggests we are still in a bearish (downward) trend. Notice how the Elliot...