Letting the charts speak for themselves, you decide.
Little ABCD on the 4hr for BTC , rejection of bearish control zone on RSI and bounce back into the upsloping channel.
This asset moves slowly, until its not. It's scarce too, but we're here for the charts and you can research fundamentals on your own. Already in uptrend on daily. Rising tide lifts all ships..should benefit if BTC and ETH are ready to continue onnward and upwards.
When it starts to really move, you'll know. But I love the harmonic, I love how it's been consolidation bullishly and already has higher highs and lows on the daily (coming off the bearish dump). This asset and MKR are two of the few larger cap cryptos to already had been back in uptrend on daily while Bitcoin and Ethereum were less clear.
Honestly 10k EOY seems like a conservative target and if you wanted to get moonboi, 26k by end of bull cycle (tons of room for wild violent swings, ups and downs along the way)..but currently experiencing sustained upward pressure and weekly bullish divergence off those 3 white soldiers says this up wave isn't done yet. Anyways, take it level by level, exercise...
Looking at history of BTC on daily when we have gone below 200, there has been a history of coming up to kiss/touch or even hover above the 200 (two times) before breaking back above again with confirmation and confirming/continuing bullish trend. With Technical Analysis there are no certainties, and with patterns we look for rhyming - but not aren't assuming...
As we test the bottom of the range again, whether you're bearish or bullish there could be an opportunity for a bounce (even if its a trap before continuing down). Currently eyeballing this bullish ABCD pattern (which can extend to the green dashed 1.618 target) giving a bounce right before 30k. The trend has been bearish, bullish patterns are underwhelming or...
Updating with indicators and showing diagonal supply line as well as areas of interest
Included targets.. .618 Target 1, look for good bounce around there.. If we continue downard past that go big and aim for A and C of the Harmonic.. there's a great congestion zone down (see the box).. May never see that area.. take it level by level.
Had this charted for quite some time mostly on the weekly scale, wanted to zoom on daily to show some of the smaller harmonics for the Spring & Test as it prepares to jump the creek. This is slow moving and over time, in the past and early on I definitely was looking for distribution (and was thrown off by the COVID anamoly behavior)... since then I've reexamined...
Measured move of the falling wedge brings us close to 37,000. An engulfing candle at the supply line of this theoritical falling wedge is a nice validation/start for the idea. I still am skeptical and looking at a Bearish Gartley into the congestion zone (between 38.4k-39.6k) however if we don't react violently and it fails that opens up possibility for bearish...
Here is the dump to 50/55 MA on Weekly, bounce up and touch/near 21 MA before coming down, and continuing downard
Always a good opportunity for a bounce at the 1.13 region ($24,472) level. Could have another bulltrap up to 38k or so before continuing on down. 19.6k is another major level of support to watch for and then down to 16-17k region for 78.6% retrace and new higher low (on macro level). Take it one area at a time. 24/25k only becomes relevant if we break down...
This a HUGE pattern spanning over years both the Gartley Harmonic as well as the wyckoff Accumulation, which has recently backtested the spring and is jumping the creek. The dividends are insane on IBM too, so this is longterm account with great growth potential (better than cash). Obviously the best entries were down at the spring and backtest, but with the...
Like the Cardano (ADA) chart I posted, MKR avoided making lower lows on the daily and has kept a strong presence following the Bitcoin/Crypto market selloff. I'll let this chart speak mostly for itself, but fundamentally were you aware of MKR's scarcity.
Identified this wyckoff accumulation April 25th and have been watching it play out leading to the breakout of the accumulation range around May 6th ; It was definitely under pressure with Bitcoin and the rest of the crypto market, but despite its nasty wicks the candle closes were never lower and its one of the few cryptos to maintain higher lows and not...
We have a beautiful ascending triangle forming, more clear on 4hr following the bullish shark with deepest retrace possible 1.13 ; be cautious around the .5 retrace (top of the ascending triangle breakout for Bearish 5-0 / bear trap). If we break out though the measured move of the ascending triangle takes us up to the .886 retrace (confluent with bearish Bat...
Been paying attention to this since May 31st and before, posted a chart earlier on it (May 20th) before recognizing the 3/3 pattern since December. Gartley Harmonic Pump n Dump accumulation... accumulation sideways period 14-37 days after the harmonic (marked the dates with my verticals (june 3rd and JUne 26th) looks like its already breaking out early. Lets...