Just pointing out similarities between the last major bull run and the current one. We're a bit more extended now than we were at the 37 week mark in 2017 if you compare the price to the weekly moving averages which gives me at least one reason to think that we won't pump straight up after this week.
I'm only posting this to look back on later. Got a small bet on upside in case.
Daily time frame looks great to me. I'm open to the idea of a dump from these levels but a gut feeling says that's not how it's going to play out. I love buying the daily and weekly ribbon.
Just forecasting right now. This looked like an ascending triangle breakout to me, which may very well be in play, but this point makes a good clean rising channel pattern as well. My last post showed a similar pattern play out on the 1hr time frame, and as I said in that post, I would expect a big move if this channel breaks to the upside.
I caught the breakout of this big horizontal triangle at $9280, and I've been buying on this pink line all week. I'm expecting it to break one way or the other soon. If up, I'd expect a huge move. Got a stop loss at $9490 just in case we go down, that'll yield 55% profit.
I could've sworn that I posted this months ago but apparently I never did. I had just gone to my profile to see if this fractal pattern was still lining up, and couldn't find it anywhere. Anyway, I put this fractal pattern on my chart awhile back just to entertain myself really but it's been holding up surprisingly well. I don't necessarily believe we're going to...
I'm sure you're all looking at the same thing. Been watching it all month.
I'm not getting too excited, but to humor myself and you all, I took a measured move of this triangle and it was around 11,700ish. Then I zoomed out on the weekly chart to see if there was any significance to that level, and there is. The weekly chart shows it quite clearly. I'm sorry that I don't have more to say than that, it is what it is. Definitely not...
People have been talking about ascending triangles for a couple of weeks now, but I can't see it. This is the pattern I've been keeping my eye on, though it has admittedly taken longer to develop than originally expected.
Plan is in the chart, not much to explain. If 5600 is broken down I'll move my stop los up to 5800ish and see where we go from there.
BTC looks to be forming an ascending triangle. If it proves to be true, I'd look for it to punch through the red sell box at 6k and consolidate above. I bought at $5,000 and don't plan on selling. I'm trying to build a nice leveraged position right now and looking for buys around 4700 to 4800. If that fails, I'm getting out of my long at $4450 until we find...
I posted a BTC long trade that I took yesterday and thought I'd post this ETH trade as well. Current price action also correlates with a long term pattern as well, and it looked too good to not take a small position on in my opinion. This is the first time that I've bought ETH since 2018.
I'm not sure how high it will go or how long it will last, but BTC appears to be pulling away from this consolidation zone to the up side. A pump from these extreme lows is to be expected.
I've been watching this rising wedge pattern for a couple of days now. You could draw the upper line in a couple of ways I suppose. I wouldn't be comfortable shorting this but will definitely be going long if we do get this retrace. I personally would like to see us retest and consolidate above the 200day EMA for awhile before continuing an uptrend.
I live by this indicator. The last time these conditions were met, it was an excellent buying opportunity. From here, I'm going to start slowly building a long position.
If I did this correctly, then the target of the larger triangle is right at around the $5,000 range. The lines of the smaller triangle are a bit sketchy so take that with a grain of salt, but I would expect the price to reach near $7,000 levels based on that breakout.
We're flirting with a breakout of this pattern right now. Four touches on the lower support line, a break above the EMA resistance, and a potential breakout have me bullish AF right now. The measured move of this breakout would put us right around the resistance at $9,100.