BTC broke out of the broadening wedge. According to this chart, next alt season could come when BTC hits 80% dominance.
BTC dominance Descending broadening wedge broke out by the upside. Next target of BTC dominance is ~80%
We could see a small retracement to 16.1k - 16.2k to hit the bottom of the ascending wedge on 4HR TF
We could drop to 14.5K soon if the diamond pattern is confirmed. And we would also break the purple ascending triangle.
ETH bounced on 0.5 fib retracement (~406$) ETH is now in a descending broadening wedge. Target should be around 442$ in case it breaks the wedge by the upside.
We can see some technical similarities with 2017 bullrun. According to Log Growth Curves, next top should be around 150K. Expect breakout of the ascending triangle between this summer and the end of this year.
ABC correction followed by 12345 Elliott Wave . Bottomed yesterday around 8000 (still possible to test 7800). 3rd impulsion pointing to 13K early 2020 (after a few weeks of consolidation).
Two possibilities : - Bullish W pattern, target ~12k - Still bouncing inside the range
Possible downside fakeout until 8k6 - 8k3, then big upside impulse to reach 16k by mid october.
The downtrend line has been broken sooner than expected. This could be the end of the bear market : accumulation period before the next bull run.
BTC is in a channel which is forming an ascending triangle . But we are still not out of the bear market. BTC could break this heavy resistance of the HL trendline at the end of this triangle. If so, it could jump to 5,5k$+. And we could probably start a new accumulation phase before the next bullrun. Wait for the breakout. But if it breaks the support, it could...