if we break the neckline, the projected target would be around $6450. But we need to be cautious, this bear trend is full of fake outs.
After the bullish break of the equilibrium pattern, a new bull flag has formed with a potential upcoming bullish break. Old resistance levels will have to be broken to confirm a new short-term upwards trend.
If we break the resistance line, followed by large volume, this would be a very bullish sign and we could expect a significant upwards move. Let's keep watching this level.
In case of a broken neckline, this would be a bearish signal, and suggest a possible further downtrend from here.
Similar setup as before just on a longer time frame, if we break the neckline, this would be a good buy signal.
If we break the neckline upwards, we would have a very bullish signal, this would be a buy signal. Profit targets at previous resistance levels.
It's hard to analyse charts before such forks, but looking at the log chart, BTC has bounced off the upper trend line of the price channel. A retracement to 5500 or lower would be a healthy one.
suggesting a reversal of the bearish trend. if followed by buy volume, this can be a buy signal. But we have to be cautious until the BTC fork is over.
Possible upcoming trend reversal looking at the daily chart
Bearish Divergence on the daily chart suggesting price reversal ahead.
I have sold all my LISK tokens on bittrex, sent over my position in bitshares (for speed) to Polo and bought LISK back at a nice 12% discount. Unfortunately you cannot send LISK back to bittrex at the moment due to the wallet maintanance on bittrex.. otherwise this could be a fun cycle!! I am not necessarily advising anyone to do this as prices can align...
PAYBTC short term consolidation seems to be over, it bounced of the .681 Fib Retracement line and broke through the descending trend line. If we see good volume this will be a buy signal.
If there's a new breakout, this could be a good buy signal. Profit target 1 will be previous ATH, which could be broken quickly in these bullish times.
If we have found our high and the impulse waves are as shown, NEO is likely to follow three corrective waves (A, B, C) of the Elliott Wave.