A potential way forwards if we can break the double top, forming this ascending triangle. And I like the 50% pullback this idea generates; the levels make a lot of sense. TRX Current Market Cap: $1.8b ETH at its peak: $130b --------------------------------- ~70x Potential come the next crypto bull run. Assuming TRX can maintain it's hype, publicity, bold moves...
NEM is fundamentally at a weak point (www.coindesk.com) We also failed to 'double bottom' from the recent low at 1250. That in addition to Bitcoin having no firm base in place right now; means this is all very uncertain/bearish. The next stop down, is from the long term weekly chart, to the previous capitulation candle/wick at 850-900 or so. "The full launch of...
Are we going to bounce off the bottom again? Oversold, stoch rock bottom. Volume low, but increasing as we test this key structure.
We're retesting the previous bubble top. We're currently in a very short term cool off period (minutes / hours), before we'll try one more time. If we get 5-10sats clear of the previous high, for a clear breakout, then I believe this ABCD target will be in play. At 977, I would expect a full FIB 61% retrace. To satisfy all the divergences, and general buying...
Graph has it all.
Stoch and RSI seem to conform. Should be a nice retrace once we hit the top whilst everything reloads for more bullish action. (A second, larger cup is forming hopefully, that could be the basis for 1200 sats or so)
Graph says it all. If we get into the wedge, we'll shoot to 5200 or so almost instantly. If we don't, I think we retest the bottom, or new lows for Bitcoin.
50 SMA about to cross up on the 200. Stoch fully charged. RSI not overbought. Flag about to complete. Fingers crossed there is no drama from Bitcoin to spoil this nice setup!
Golden Cross Imminent Stoch rock bottom. RSI low. At 61% level from the very bottom vs bubble top. ABCD target would be 2900 or so. But there'll be resistence at 2500 first I should think.
We're potentially forming a cup & handle right now. Though the bottom isn't very smooth, so it's far from perfect! Assuming the best case scenario, the target of that cup forms a near perfect 2nd, larger cup. Add in a 61% Fib retracement for the handle there. And that 2nd, larger cup, then gives you a target of the previous high from a year ago. From there,...
50 SMA about to cross up on the 200. Stoch fully charged. RSI not over bought. (Incorrect text on graph - sorry!) Flag about to complete. Fingers crossed there is no drama from Bitcoin to spoil this nice setup!
What am I doing wrong here? As I don't see anyone else suggesting this, which looks blindingly obvious on the larger time frame.