3d 200MA at 7064 atm, 6k breakdown occured after losing 3d 200MA, turned resistance & turned support after breaking 7k again S1 pivot at the same level.. 38.2% fib-level around that level
sometimes all you need is 1. identify the trend 2. find the first major correction 3. use trend based fib levels 4. call it ABC correction, draw ABC 5. include fancy guppys that tells you to be patient
sometimes all you need is 1. measured move via bullflag (pole = breakout target) 2. trend based fibs (confirmation of target) 3. fancy guppys (div. EMAs, that tells you to be patient)
compared the Litecoin breakout with current BTC situation.. Also interesting, Litecoin never (until now) retested the breakout level..
$4,800 - $5,000 3rd week of march $5,400 - $5,600 3rd week of april
just an elliot experiment.. not sure if those lines are 100% correct.. comments appreciated
just something so watch..
based on january 2015
I think then we all can enjoy the christmas time - desc. triangle target from $5,800 would be nearly reached - 2 H+S pattern with same target would play out - or alternative: 2 sym. triangle pattern would play out - falling wedge pattern would play out I will buy in if we reach new yearly low and will average down to 3,060.. all below $3,060 seems a bit greedy to...
based on 2 H+S pattern, as well as the target of the descending triangle breakdown around $5,800.. all 3 pattern have nearly the same target..
would be great.. ket´s see how this plays out.. that would lead us to something like a retest of the second dump.. which is overdue imo
looks bullish, easy x3-4 IMO