Bitcoin on H12 - when is it going up?If you look at the H12 chart, then you will see that a channel of blue lines is emerging. The price movement may well follow the pattern of Wolfe waves. Thus, the fourth wave will start somewhere at the level of 20,000 - 20,400 USD. (POC for horizontal volumes is around 20,300 USD). Also, the Stoch RSI is currently supporting the price decline.
Take into consideration the fact that point X on the red line (local minimum) occured as a result of a sharp fall from the local maximum of 32,400 USD. The angle of point X relative to the 32.400 USD point is too narrow. This factor offers supports to the formation of point 6 according to Wolfe waves.
In general, Bitcoin is at an accumulation stage, where the flat may last another 2-3 weeks. Therefore, the price rise to 28,000-30,000 USD may well not take place until point 6 is formed. However, it is worth tracking the price movement on 4H, 8H, 1D. Afterall, this is a market! Everything is possible!
Wolfepattern
Clean bullish Wolfe Wave on $UNI.Missed out on the perfect entry on $UNI, but I will start accumulating now (even if we dip a little bit considering Bitcoin has a tendency to misbehave while ranging). Targeting around $8 as a target. Could be worth keeping some for after $8 if the market sentiment turned bullish in general.
XTZ - Tezos ANALYSISTezos (XTZ) on 4 hour timeframe formed a Wolfe pattern and it is heading towards it first target of $3.22.
The RSI indicator is also forming a divergence which supports it bullishness.
The support trendline is good for building buy/long position a stop loss below it is advised but not tight to avoid being chased out of the momentum.
#MATIC #POLYGON Shortthis chart shows weekly time-frame of #MATIC and related to the last analysis in daily time-frame.
#MATIC #POLYGON Shortfirst impulsive wave as wave 1, formed in 5-3-5-3-5 waves and created a harmonic pattern named wolfe-pattern.
SL: end of wave 5
TP: end of wave 4