High time frame view of SC/USD.
On the left, you've got a simple cup formation, that seems to be mirroring the left side. We've currently returned to a strong support area, where we should bounce over some weeks. And if we go all the way up to the top of the channel, that's $0.30+ ... 15x or more your money from this point. Lovely!
On the right, a multi-year wycoff re-accumulation pattern. Where we seem to have just 'jumped the creek' (also 200MA weekly) and with the bitcoin price action, we've returned to the last point of support. Now keep an eye out for an upthrust to demonstrate a sign of strength; and then boo-ya! Big money on the upside if that runs.
BTC chart doesn't have much to say, other than it's very low compared to its all time highs of 850+ sats. So obviously 10x room to grow there before we break any new ground.
On the left, you've got a simple cup formation, that seems to be mirroring the left side. We've currently returned to a strong support area, where we should bounce over some weeks. And if we go all the way up to the top of the channel, that's $0.30+ ... 15x or more your money from this point. Lovely!
On the right, a multi-year wycoff re-accumulation pattern. Where we seem to have just 'jumped the creek' (also 200MA weekly) and with the bitcoin price action, we've returned to the last point of support. Now keep an eye out for an upthrust to demonstrate a sign of strength; and then boo-ya! Big money on the upside if that runs.
BTC chart doesn't have much to say, other than it's very low compared to its all time highs of 850+ sats. So obviously 10x room to grow there before we break any new ground.
Note
ps. Ignore the volume profile on these charts... Poloniex is a dead exchange these days after it was sold in 2017; screwing all its big users! But it has all the old price action. If you look on the Binance charts; you will get a much better current volume action.Note
Some fibs for the SCBTC chart:Gold are extensions from the very first impulse of this bull run.
Red are levels from the resistance core of the most recent big dip.
Note
Range breakout and retest (60-70% retracement of wave 1).
Next leg really should be 160+ sats (1.6 extension) all the way up to 400+ sats for a 4.2extension.
Just a question of when!?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.