Currently ARK is dipping through the trendline that it has established over the past 7 months. Much like in the previous two legs, it's retraced down to the .786 Fibonacci line around the same time that it's touching this trendline. In the past, from the lowest point before the beginning of a new leg, it has taken between 1 to 3 weeks to establish a new ATH....
Bitcoin has been following the same pattern for a few months now. Lately it has been forming another ascending wedge, and it could go as high as $6500 without breaching the upper trend line at this time. However, the RSI has been sitting in overbought territory for days and price momentum appears to be weakening. The previous ascending wedge resulted in BTC...
Just for kicks, I decided to see if I could chart the next movements for DGB. This is a coin plagued with a tragedy equal to its amazing success earlier this year. I expect to see a bounce off its old 100 sat support and then a corrective retracement.
Current thoughts on the ARK purchase I just made. Credit to scooty94's idea for some input.
As others have noted, BTC-USD has set up a bit of a H&S pattern, which may indicate a reversal outside of the bullish channel it's been following for the past couple weeks. However, it also appears to be setting up a descending wedge, a potentially bullish signal. Currently feeling optimistic, but objectively appears somewhat neutral. I'm interested in seeing how...
My observation on how BTC is repeating the same logarithmic pattern right now that we saw over the months of May-August.