Over the last three cycles BTC has corrected 25-40% once reaching the 61.8% retracement from the previous cycle high to the cycle low. Past performance does not indicate future outcome but there's a good chance we see a correction at the 61.8% fib retracement once again.
///////////////////////////////////// Textbook H&S on Harmony. Looks scary. //////////////////////////////////////////////////
Rising wedge! The BTC pair looks like absolute garbage. We are about to DUMP HARD on this shitcoin.
Bitcoin has painted a textbook bull flag pattern with a target at the previous high at around 52.5k.
Consolidation and more consolidation. Considering BTC has been extremely strong and this is seeing EXTREMELY WEAK follow through on that last pump attempt, more consolidation followed by a dump is likely
Sushi is developing a dragon pattern with bullish divergence on both oscillators. If the trendline is broken and backtested the target would be the next resistance. S/L would be below the 2nd low. Not financial advice. DYOR
Matic has been trading in a downsloping consolidation for the past 2 weeks, ever since the coinbase hype pump. It has formed a falling wedge pattern and is now showing bullish divergence on 4H MACD and RSI. The volume on this sell-off since the pump has been quite weak, which indicates that a continuation of the bullish trend is likely if BTC remains strong. Also,...
I believe that we will retrace up around the 61.8% level and make a lower high before correcting further down to the green box support (previous ATH). If it plays out and that support level holds, a higher high will need to be made above the 61.8% retracement, in order to avoid a bear trend.
ZCASH broke out of its ascending triangle and backtested it before confirming the breakout.
Confirmed breakout of symmetrical triangle with hidden bullish divergence on both oscillators.
Ascending triangle forming on CRVUSDT 4hr time frame. S/L below previous low.
Bitcoin has painted an inverse H&S pattern on the 1H chart. We had a backtest of the neckline with a bounce. A re-test of recent highs could occur if pattern is respected.
A potential H&S pattern has formed on BTC. Potential target ~$29,000-$30,000.
We just created a double top pattern with clear class A bearish divergence on both oscillators (MACD and RSI). Good place for a low risk short.
As you can see, we are currently trading in a rising wedge pattern on the 1D BTC chart and have developed bearish divergence on the MACD and RSI oscillators. If bulls aren't able to invalidate the divergence and pattern by getting over $9950, I would expect a drop to support levels at $9150, $8800 and $8600 below. If we fail to hold these, $8000 and $7400 are the...
Ethereum has been making higher highs with lower levels of positive momentum as shown by the MACD and RSI indicators. If BTC doesn't follow through on its pump, ETH is due for a correction.