I think the dump was likely completed. I'm guessing it's going to pull a bull flag which will bring it up to the top of the wedge. If we get a wedge breakout, the ultimate target would be at the top of the red fibonacci level roughly - around 0.0220ish. Not sure how long it will take to get there though. I'll start to get worried if we fall too far below 0.0130...
See chart for target (rough estimate, it could hit anywhere on that blue line)
In addition to the Bullish Wolfe Wave it also looks like there's potential for an Inverse Head & Shoulders if it reaches 0.00021000 again. Safest thing would be to wait for to pass the neckline before entering a trade...
The other patterns I was following broke down - it's now looking like a dead cat bounce. First target would make a double bottom, second target would be of equal length to the first leg down, and hit the previous consolidation point/fibonacci level.
To me, Sia still seems way undervalued & ignored based on its potential - and it looks like it's forming a large Cup & Handle. Target is on the chart. And just for future reference I put some extra speculative targets, not based on anything except some trendlines I found and the fibonacci levels. Not recommending trades based off of those - but if it does shoot...
I'm seeing 2 potential Cup & Handles here. The first is in yellow and on slight angle with a smaller handle - this one has already broken the neckline. The second is the orange one, which would complete the cup at the ATH, and retrace to form a handle (or fail and become a double top) My feeling is that the yellow one is a little too weak, and that it will reach...
Looks more like a Bearish Wolfe Wave to me, which makes me think it's going to try and retest the top of the Bullish Pennant we broke out of last night. If it's a triangle breakout, target is roughly the next fibonacci level. I already went long from the pennant breakout, so the only trade I'm making here is to add to my long if it does test the top of the...
I think Litecoin has hit or is about to hit bottom. 0.0130 is my call for the lowest point if it takes one more dip down. See the chart for details.
Here's another path I can see bitcoin taking. Matches fib levels pretty well so I figured I'd share. If I seem a little schizophrenic with these ideas, or like I'm covering all possible bases so I'm bound to be right - that's not the goal here. They may all be wrong. I'm just trying to find as many potential patterns as I can so I'm not caught off guard -...
Holy mother of god XRP has been on a tear. I'm in disbelief that it's already moved up another decimal point, I didn't see that coming for a long time. And for some reason even though it's gotten very high very fast, for some reason it feels really strong, where as in the past it usually feels like it's about to do a 100% retrace dump at any second. But it's...
This is an expansion on my recent post about the Descending Expanding Wedge breakout. I spotted a potential Bearish Wolfe Wave while trying to figure out the next steps if the breakout fails. It was a solid breakout of the wedge, but since the stochastic is pretty high across multiple timeframes, I'm not 100% confident that it has the momentum to continue. The...
I thought it was going to have another leg down because of the Ascending Triangle - but it broke through that AND the top of the Descending Expanding Wedge, and also broke above the 1hr Ichimoku Cloud. My target, if this holds up, is roughly $2000.
Chart says it all. There's a small Cup & Handle potentially forming, and the neckline roughly coincides with the Ichimoku Cloud.
I don't expect anyone to actually trade based on this, but so many things lined up I thought I'd share. Developed this idea when I went back & revisited my Bullish Wolfe Wave idea and set it to log scale & it matched really well with my Cup & Handle idea, AND seemed to match really well with fibonacci scales I was drawing. I'm not saying I think this is how...
A lot can happen in a couple months, but I just wanted to put this guess out there and see where it goes :)
Looks like we've hit the bottom of the new channel twice, and it's currently trying to break through the next level. If it fails, expect to hit the bottom again before going up (or going down and breaking out of the channel, but I don't believe it'll do that considering all the good things happening with LTC). This has likely been a "sell the news" drop, I...
Yes, I'm excited about the rally, and it feels like a new bubble is ramping up (media attention, people coming out of the woodwork asking me about bitcoin, flood of new users on r/bitcoin etc). BUT BE CAREFUL. I'm not posting this to scare people into a crash, I'm just pointing out that if we are going to see a major retrace, many signs are pointing to it...