SKYCOIN/USD Crypto Setup LONG BUY.
🔮 Daily and 4 Hour BULLISH Gartley.
🔮 Pattern (corrective) occurring after a bullish run up (impulsive) which broke above CRTICIAL SUPPORT/RESISTANCE.
🔮 Broken above Resistance and now testing it as Support to confirm uptrend.
🔮 Bullish Gartley Pattern Completion occurring at the CRITICAL SUPPORT which once broke as resistance.
🔮 Daily Hidden Divergence forming along with further confluence on the 4hour with potential Hidden and classic divergence.
🔮 4 hour & 1 hour forming potential double bottom at reversal zone. The alternate to the double bottom here is that it’s turning into a 5 wave wedge, very slightly lower than the double bottom position, yet exactly at our final destination, being the D point of our Bullish Gartley. 3 touches on the falling wedge, high probability of a bullish breakout of the wedge imminent.
🔮 Looking for bullish movement and breaks of bearish structure to confirm bullish momentum and bullish trend resumption. Want bullish movement with a break of the previous lower high on the 4 hour for added confirmation along with a break above the blue downward sloping supply line for even further confirmation.
These bullish movements will turn the oscillators positive as bullish momentum kicks in and takes this market higher.
🔮 Harmonic Pattern Completion - Price now bouncing up with bullish price action. Price has broken back ABOVE the CRITICAL SUPPORT/RESISTANCE.
Entry: At Market (non-leveraged) currently $1.9840
Take profit 1: $18
Take Profit 2: $44
Longer term holds in confluence with the MACRO bullish market of the Crypto Currency boom. Macro Analysis may come in the future when i get more time.
Please like, follow and share if you like enjoyed this analysis :) thanks!
🔮 Daily and 4 Hour BULLISH Gartley.
🔮 Pattern (corrective) occurring after a bullish run up (impulsive) which broke above CRTICIAL SUPPORT/RESISTANCE.
🔮 Broken above Resistance and now testing it as Support to confirm uptrend.
🔮 Bullish Gartley Pattern Completion occurring at the CRITICAL SUPPORT which once broke as resistance.
🔮 Daily Hidden Divergence forming along with further confluence on the 4hour with potential Hidden and classic divergence.
🔮 4 hour & 1 hour forming potential double bottom at reversal zone. The alternate to the double bottom here is that it’s turning into a 5 wave wedge, very slightly lower than the double bottom position, yet exactly at our final destination, being the D point of our Bullish Gartley. 3 touches on the falling wedge, high probability of a bullish breakout of the wedge imminent.
🔮 Looking for bullish movement and breaks of bearish structure to confirm bullish momentum and bullish trend resumption. Want bullish movement with a break of the previous lower high on the 4 hour for added confirmation along with a break above the blue downward sloping supply line for even further confirmation.
These bullish movements will turn the oscillators positive as bullish momentum kicks in and takes this market higher.
🔮 Harmonic Pattern Completion - Price now bouncing up with bullish price action. Price has broken back ABOVE the CRITICAL SUPPORT/RESISTANCE.
Entry: At Market (non-leveraged) currently $1.9840
Take profit 1: $18
Take Profit 2: $44
Longer term holds in confluence with the MACRO bullish market of the Crypto Currency boom. Macro Analysis may come in the future when i get more time.
Please like, follow and share if you like enjoyed this analysis :) thanks!
Comment:
To add, this Major, Critical Support/Resistance from the past is also the $2.00 USD Major Psychological Level. We want to stay above this level/price point and hold it, Confirming a bottoming point and hence drive price up further.
Comment:
Potential Bat pattern for a double bottom before we resume the trend.
A double bottom confirmation and turn.
A double bottom confirmation and turn.
Comment:
Two potential turning points:
The correction could end at this current position. If price turns here, this signals strength in the bulls by buying at this higher price rather than the major double bottom of the second POTENTIAL harmonic pattern completion level.
The correction could end at this current position. If price turns here, this signals strength in the bulls by buying at this higher price rather than the major double bottom of the second POTENTIAL harmonic pattern completion level.