Fibonacci extension shows that current uprise could be over very soon and we will start a corrective ABC pattern. Red line - pretty solid supply zone from 23th , 24th and 28th of February. Yellow line - downtrend line: peaks at 29th January and 23th February.
Technically we should continue long term uptrend and make a new high. Upcoming several cryptocurrency conferences in May and June may add the momentum. The low of corrective wave E doesn't necessary have to hit the bottom of triangle but its possible of course.
Fibo extension of current impulsive fall shows bottom around $8k. Violet line is interesting ($3k - $6k bottoms - linear scale) - I'm probably not only one that sees it ;)
Increases are the main cause of declines and vice versa. Beware of supply and demand zones.
Gamecredits is slowly developing, team is delivering, accumulation time last long enough already - we are seeing long term break setup. Game is ready to rise!
Left fibo levels are $11.7k - $6.4k, right one are $6.5k - $9.7k. We are still under the white dashed line that represents whole impulsive movement from $6.5k. Most possible we are into the beginning of C wave. Leaving the symetric triangle (orange lines) by its bottom line will confirm further correction.
We are stuggling around 50% of long term fibo level with a solid pressure to stand above the line. In next couple days we might see further new uptrend confirmation.
Left fibo levels are $11.7k - $6.4k, right one are $6.5k - $9.7k. 38.2% fibo may end this correction especially because this level is also around local high from April 15th. Also we are currently above ALL down-trend lines (log and linear) from Bitcoin ATH so basically we just started (April 19th) new - at least local uptrend.
We positively left big falling wedge and just formed another smaller one. Considering the good sign of leaving the big wedge we still have plenty of space to rise, and smaller symmetrical wedge shows struggling around long uptrend line ($1.8k - $3k). Moreover we just had tripple bottom so amount of positive signs suggest UP. After we reach the 'magic point' it...
Whole move from March 18th to today (March 27th) is in fact a fractal of the whole movement between February 6th - March 18th, nearly identical (look on lower scales than 1d). Last time it ended on 78.6% fibo retracement and now we also fell near to that level (especially on Bitstamp ). Two such fractals one after another, one smaller then previous - creating...
Looks like we have ABCDE correction/narrowing triangle that possibly may end with going up to $10k direction.
On $8200 we have 2 strong fibo supports: 61.8% retracement from $6k-$12k uprise and 50% of $7.3k-$9.17k move which looks like ABC correction which I pointed on the chart.
Bitcoin/USD is more and more volatile last days what is typical for expanding triangle formation (megaphone) which considering the trend started from $6k can be bullish sign and drive us above $12k at last.
It seems that market demanded symmetry and wanted to bring down the price to 17h of January's level - completing inv HS formation. The price also touched downtrend line from $19k in linear scale.
Aelf is widely promoted project with high scope of usability (cloud computing blockchain). Finding new potential trend reserval and moment of rise is always hard and this is my first attempt to do that with ELF/USD. Cup n handle formation after huge correction with crossing downtrend lines seems to be a good place of starting the new uptrend.
Long term correction of big upward move of ADA/BTC seems to come to an end - long lasting ABC wave (5-3-5) is possible to draw on the chart. Currently forming upward move could rise to at least 50% of whole wave C, what would be about 0.00004665 BTC. This move would be ABC correction of wave C (which has 5 waves). Remember about stop loss if you are not hodler/believer.
Current correction of a move from $9280 may end close to the long trend line ($3k - $5.4k). Possible cup n handle formation that would bring us above down trend line for good.