We can see that, at the precipice of the wave, staggers but does not pass, around the new high. This area may be the last correction (ABC) wave marked in red. Moreover, the RSI divergence signals to sell as it corresponds to the last correction wave. As the tide turns, each motive wave corresponds to major support lines. The last and 5th wave should slide around...
We can see where the top of the cup and handle lines up together at a key resistance point. If prices break past this point, then we're expected to see bullish progress at three possible take profit points.
The 5th wave should be completed by the middle or end of next week yielding a correction indicated by your very own MACD as it spots a divergence. This is an indication of an upcoming harmonic (whichever one it is)
Trade and tariff conflicts should correlate to with this correction area, so keep an eye out on the news
A bearish cypher set-up on the 30 minute chart. There is some evidence of a bearish continuation as there is an obvious divergence indicated by MACD on the Daily and 4H charts.
For a conservative apporach, I set my target on 38.2%
In most cases, corrective waves are harmonic patterns. If prices breaks the highest peak, then the trend will continue to go up to the 3rd, and highest, wave. Otherwise we may see a bearish harmonic pattern which will continue the 3rd wave to the downside.
We're looking at a huge bearish Head & Shoulders pattern which may be perhaps the end of the Elliot cycle. A potential new Elliot formation may resume the bearish H&S down to the Fib. Expansion at 1.618, which is around the lower $700.00.
We shall see what will happen after it touches 1.618. Will it go up?
As BTC broke numerous support levels, most Altcoins followed like a tail end of a comet. Everyone knows about the MACD divergence on BTC, the question is: when will it reverse?
Since XVG, along with most altcoins, behaves in a similar manner, we see a similar divergence using MACD on the H4 or H3 chart. I established the final support line for XVG using the...
Prices are in the corrective phase as it may continue it's prominent trend. If it bounces off the downward trendline, then the Head and Shoulders pattern is complete. PRZ are listed ATM and OTM.
Two possible reversal zones. The harmonic set is arbitrary, but still has significant ratios such as the 78.6 and 88.6 marked in blue; the 1.41-1.618 marked in green.
