BHP has three swipes to the high and has accumulated there for quite some time, three levels are seen. BHP will most likely break past perceived resistance, maybe accumulate for a few days, and then drop.
Three levels of accumulation and a retail traders fantasy an ascending triangle. price should go past the perceived resistance, maybe stay there for a while and then drop.
By using logarithmic charts we can effectively measure how big a spike was a few years ago compared to now, and by using Elliot wave theory we can make an educated guess on where the markets will go.
If we take a look at where bitcoin is now, and where the big long blue trend line that acts as bitcoins support, we can see that the distance between the price and...
An elliot wave is seen and is on its last wave to wave 5 in which a correction occours, this is proved from the pennant which is a trend continuation pattern signifiying a breakout in price.
Looking at Ethereum you can see a very noticeable bearish symmetric triangle, some people may get this mixed up with a pennant but the difference between the two is that with a bearish triangle, the price starts from the high point, whereas a pennant starts from the low point.
And also looking at the MACD a crossover seems very possible to the bearish side, and...
