Mapping out the next possible and probable step(s) for the indices ( in this case NQUSL ) 1. Bounce/relief rally to retest the 200MA and multi-year (purple) trend-line. Resistance holds, break-down to next support level between 2500-2400. 2. Multi-week trend-line holds as resistance, we break down to next support level between 2500-2400. 3. Bounce to retest...
Follow up to my previous chart Based on my previous chart the Bear case played out almost perfectly. We broke the $40K-$42K support, and tested the $30K support So where to next? Bull Case: The $30K support holds, we chop around between $30K-$40K zone, then push higher Bear Case: The $30K support breaks, and we have a fast 30%-35% washout which will put us...
Two of many ways BTC can go from here. Bull Case: $40-$42K support holds Bear Case: Support breaks, and we get a longer recovery period.
Here's my latest comparison to the 2014 Bear Season, and possible outcome for this Bear Season. here's the link to the two charts side by side prntscr.com
The next 24-48 hours could be decisive for the next BTC move. BTC has been slowly grinding sideways at support on a descending triangle, the past few days. Descending triangles tend to have a bearish bias and we could see a break below support. A break of the descending trendline may lead to a nice bounce play but right now we're on the fence. On the Bull side,...
It's time for BTC to make a decision. Can we break out to re-test the $10,000 resistance or are we going to break support at $7000, and go down to the next structural support around $5000?
Just looking at the bear market in 2014, and comparing the charts. Lot of similarities. Let's see if it plays out the same way, or if we get a break above $10,000
1. Support holds at $6000-$6500, we create a Adam & Eve Double Bottom, and break out of the Descending Triangle 2. Support breaks at $6000-$6500, we see a final washout/capitulation candle, before a major bounce to prior resistance around $10,000-$12,000 Either way, I'm ready and loaded to scale in on a breakout, or buy a dip.
I'm liking the setup on ICN... - 96% down from ATH - currently in accumulation zone - hasn't popped yet Could be a great place to start position sizing.
Possible outcomes for the next few days (perhaps 1-2 weeks) - Retest the $9500 resistance area - If we get enough momentum, we could break resistance. Next resistance would be around $10,000-$11,000 - But I wouldn't be surprised to see some sellers stepping in at resistance for some profit taking, and we could see a drop to retest the ~$8000 support area - If...
This is probably the last time we see LTC anywhere close to $35. We're about to test new highs and never get back to this level again. LTC to the moon.
My second analysis... Feedback and Critique welcome. The pattern seems to be an exact repeat of last time ETH sky rocketed.
My first analysis.... Feedback and Critique welcome.