Last cycle we retraced to the GOLDEN .618 fib and had a pullback of "30-40%". We're currently testing the .5 looking to break out of an hourly flag right below with a price with a target of 13k the .618 GOLDEN fib level like the last bitcoin cycle. Following we had a pullback to the .382 or a 30% pullback that held weekly candle bodys, i believe we might do the...
Ascending Broadening Wedge Short Target.
A couple of targets for the triangle ETH is trading in, it's just a matter of when and where the breakout will occur that will determine the target. Reversal or Continuation in trend? we shale see..
Divergence in RSI, along with the bearish wedge formation, can put a target at 40$ right at the resistance level from january 7th-9th that she blew threw and checked once february 13th-14th.
Called this in my last BTC update (Green falling wedge). Rsi is mapping out the triangles with perfection. Volume falling as we trade further into this massive symmetrical triangle (in Grey)
2 Fake outs in wave E, Wait for the breakout of the falling triangle, Use proper risk management, Gl
We are in another falling wedge within the triangle. We need to breakout of the wedge, and up out of the triangle to see 5000. Gl
A retest and more buy volume will confirm this high probability chart pattern.
price had resistance at 6600 last weeks, now has found support at that price, would look to add to positions,
Be be careful though the 15 minute flag target is 16000 which puts the price right at resistance from the bottom of the channel we broke a week ago! probably will see a lot of take profits. Look for a spike in buy vol. Once we get up there to hopefully break back up into the channel. You'll see alts take a hit while bitcoin moves up to 16000. Look for alts to fly...