Injective has been building out a 6 month symmetrical triangle base (long-term cup w/ handle). Volume has declined significantly with price tightening up just above the weekly 20 EMA + 30 SMA.
As we're heading into a seasonally strong period (Oct-Nov is historically the best performing period for crypto) and the pattern appears to be nearing an end, this could be ready to rip over the next 6-8 weeks just as sentiment hits extreme fear.
Catalyst: The SEC on Oct 13 decided to not appeal the court case won by Grayscale, increasing the likelihood of a Bitcoin ETF being approved over the next few months. The market could front-run this ETF approval.
As we're heading into a seasonally strong period (Oct-Nov is historically the best performing period for crypto) and the pattern appears to be nearing an end, this could be ready to rip over the next 6-8 weeks just as sentiment hits extreme fear.
Catalyst: The SEC on Oct 13 decided to not appeal the court case won by Grayscale, increasing the likelihood of a Bitcoin ETF being approved over the next few months. The market could front-run this ETF approval.
Comment:
The correction has begun. Think it comes under $13 briefly and then run it to ATHs
Comment:
C'mon now 🎯
My guess is $50 by December and then a 50-70% correction