Timing of this leg up is quite suspicious, if you are bullish I'd be very cautious. It's at an important resistance and the monthly trend can hardly be faded yet. It might continue going a lot higher, but logically this could be a great opportunity to enter a short for a continuation play down to 11.5K or even 7-8K. If we continue up there's a small possibility we...
Assuming we are not entering a bear market relatively soon, this is a scenario that I think has a significant chance of playing out since parabolic support is broken and there is bearish macd divergence, both on weekly timeframe. The move might be a little bit more squeezed in time.
I got this idea from @Bullbearish (see related idea). Saw these longer term lines just now. Seems we're currently still holding support but if this breaks it will likely not be pretty.
Right now BTC has a very good chance of being bottomed out based on volume profile, price action, which makes this a very good risk reward trade. If we break this level we probably go a lot lower anyways, through which we will be able to enter way better and easily get back the potential losses of this trade.
Fractal from weeks ago says we could be about to rip again. Relatively short term target of about $13 if we do
HOT creating a nice cup and handle after a HTF compression breakout with nice volume.
Just an idea, I don't think it has too much of a chance of playing out like this because of the current high volatility. Nevertheless, a possibility is that we form a cup handle to test parabolic support as a way to build up to an explosive movement to crack the parabolic resistance created by the tops between 2011 and the last april top:
Looks a lot like the pump end Januari, would take part profit if long right now.
HNT has been dropping for a long time now and with BTC picking up steam I believe this coin has a lot of upside potential. Needs (a lot) more volume to confirm breakout though.
This chart is pretty messy, but I've recently learned about the volume profile and am using it here to find the support/resistance blocks. The supports/resistance blocks are based on the volume profile immediately to the left of the block. The main idea here is that if ETC is rejected at the current resistance, it will most likely result in some more high time...
Not sure if this is valid, but would watch for breakout above handle. I think if we are going down, we would have done so a lot more unexpectedly. Upward pressure feels very high and seems like we might not be done testing the resis
It's probably farfetched, but notice how similar the top pattern looks to what we've created at the bottom so far, this scenario would also work with several indicators. Judge for yourself.
This is mostly a hunch, but doesn't compression like this on a high time frame seem like a probable scenario? What do you think?
Every big price movement so far has been preceded by low volume. I'm not quite sure if we're low enough, but a large movement in the next few days seems likely
Related to my previous Wyckoff traceout, but interpreted on a smaller timescale
Variation on traceout of related idea using accumulation schematic #1 instead of #2