I don't think this is very probably, however it is possible. I could make an argument for a head and shoulders pattern starting to form on the monthly. and previous support/resistance levels could indicate future support... Indicating potential entry zones. The drawback to this idea is that I didn't do this in log scale.. which I like to do when looking at time...
I'm believe in crypto's utility, however I also believe in prices reverting to the mean, which BNB still needs to do. I've identified a price imbalance, as well as some triangle continuation patterns in this chart. I've also outlined some support and resistance levels, or prominent fib levels. w00f!
this cross was ugly in 2008/9 and it could be just as ugly again in 2022/23
if this is a continuation pattern, DOT could reach lows around $1 :eyes:
Centralized Exchanges are a safeish place to purchase and custody crypto currencies. I like these. Perhaps one will win, perhaps all will win.
Good traders don't predict, they react. This is a prediction. It is crazy to me that Apple is testing it's 2021 highs - in this economy. My guess is that the insanity will continue to the upper BB band (blue). Price action will attempt to break out, but people will come to their senses (or some global calamity will happen) and prices will revert to some mean.
Let your worries go, everybody hurts. sometimes w00f!
I really hope this is accumulation, and not a bear flag. Chainlink is the industry-standard Web3 services platform connecting the people, businesses, and data of today with the Web3 world of tomorrow.
Regional banks have lost close to 50% of their market cap in the last 2 months. Zion's Savings Bank and Trust Company was incorporated in 1873 under the laws of the Utah Territory by the direction of Brigham Young, becoming Utah's first chartered savings bank and trust company. ZOMG! ZION Outlook Macro Graph w00f!
Observations A triangle continuation pattern seems to have formed over the last few years RSI 50 (1M) seem to be acting as resistance My guess is that if 50 if RSI dips below 50%, price will drop as significantly. _If_ price action keeps RSI > 50, then the continuation patter would likely play out.
This would be an incredibly huge discount in my opinion. Entries in the buy zone might be a good idea if this is below your cost basis. Low probability, highly conservative play.
I think this pattern playing out could be a bear flag, or ABC correction. I think the triangle and support/resistance boxes drawn are also significant. This is strictly from a TA perspective. I'm also using fib levels from a previous correction, said retracement went to the .382 level. The fed could stop this from happening from an economic standpoint, but this...
I'm neutral here. The question is, Is the trend broken? Time will tell.
DYOR. THis is just a guess on price action using shapes I learned in kindergarten.
Me thinks ADA will dip, then enter a positive trend. Keep an eye on the next 6 weeks