Previous resistance flipped support; setting a base for a pre-halving rally over the next few months, lining up with people "buying the rumor" for the halving. Won't be surprised to see a retest of similar regions once we are closer to the halving (as people sell the news of the halving occurring). Hold tight.
Potential longer term scenario and more detail coming in following days depending on breakout. If the ascending triangle breaks upwards, ETHUSD will go parabolic. Ascending triangles don't tend to break to the upside, but can be incredibly bullish when they do.
Hello traders,
Context
Bitcoin has been seeing record low volatility for a prolonged period, trading within a compressing range for almost three months now. Now, with BTC volatility at near-record low levels and the range shrunken, BTC is to experience a movement of large magnitude very soon. BTC has been trading within a symmetrical triangle with a support...
Hello traders,
Context
XLMUSD has been consolidating gains for about two and a half weeks since the local high set on June 4th. Now, XLMUSD seems to be on the verge of breaking out of the downtrend that has constricted price action since the local high. An inverse head and shoulders pattern may also be forming on the daily chart that could help propel XLM to...
Hello fellow traders,
Context
After being caught within a symmetrical triangle - visible on the 4H chart above - who's resistance has constrained ETC/USD's price action since ~May 30th, ETC appears to be primed for a breakout. Additionally, ETC is breaking out from a smaller time frame resistance label visible on 1H chart below (labeled STF resistance).
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ETH/USD has been stuck been stuck in the $225-254 range for a few days over a month now. It has formed a symmetrical triangle pattern within this range following the massive pump led by BTC/USD when it soared to $10.4K within minutes. Now Ethereum faked out downwards from the apex of the triangle, and rebounded above the original support of the triangle. It is now...
Hi traders,
After BTC's massive pump and dump seen recently, BTC may be forming a falling wedge pattern (most notable on hourly chart) that could take it as low as ~$8.3K. Watch out for a drop in the coming 8 hours that would line up with this potential pattern and commence to give it more validity.
The hourly MACD seems to support this potential drop as it is...
On the 1D chart, BTC/USD recently broke out of a descending wedge (bullish), re-broke above resistance from the trend line formed by 2019-2020 highs (and found support exactly on this trend line two days in a row), broke above the middle band of the Bollinger Band, the MACD has been below 0 for a decent amount of time and is approaching 0 (nearing a cross), and...
Context Introduction:
XLM/USD has been caught within a descending wedge (bullish) for a bit over a year now. With Black Thursday's crash, bears really overextended themselves and even managed to temporarily break this wedge's support. However, a quick rebound helped regain the validity of the support. Since bears overextended themselves and were rejected, XLM/USD...
Within a medium term ascending channel and also within a shorter term symmetrical triangle who's apex coincides with the ascending channel's support. Expecting a breakout to the upside with a potential rise up to $290 (near top of channel, near previous high, matches the height of the triangle). 4H MACD is also just going above 0 after extended consolidation and...
Bitcoin log chart in a triangle. In line with halving history, forming a local high (near $14,300) right before the halving and falling towards the halving after such local high, reaching a local low of ~$10,900, testing previous resistance of the triangle broken out of. After finding support, BTC will commence its parabolic ascent to a new ATH in 2021.
