Crypto market is prepared to raise again!
As you can see from the graph resistance managed to hold for 3 times already!
The last dip has been much stronger than the previous ones so it needed more consolidation than the previous ones also.
Seems the time has come for the market to challenge upper triangle resistance first and then even previous highs.
At the moment we bounced from strong volume levels and stoped for a while on the next ones.
MA100 had a role of support before it got broken and now plays the role of resistance also. This could easily be a deceptive false break down from it.
When all these levels (that are now nearly at the same point) get broken, we can easily reach the triangle boundary.
We might have some retesting but that should not stop the run.
We have strong convergences and bullish crosses on indicators.
When RSI passes 50, players on the market will realize we are probably not going to lower levels as suggested by many.
Confidence will come in and the snowball effect could start again. This time altcoins (not just BTC) should bring a significant rise in the Crypto Market Cap.
Check related ideas in the link below to get to know why we are 90% sure this scenario will happen.
THIS IS NOT FINANCIAL ADVICE.
Remember to trade safely!
If you want to thank us you can hit like and leave a comment. Thank you for your support.
The last dip has been much stronger than the previous ones so it needed more consolidation than the previous ones also.
Seems the time has come for the market to challenge upper triangle resistance first and then even previous highs.
At the moment we bounced from strong volume levels and stoped for a while on the next ones.
MA100 had a role of support before it got broken and now plays the role of resistance also. This could easily be a deceptive false break down from it.
When all these levels (that are now nearly at the same point) get broken, we can easily reach the triangle boundary.
We might have some retesting but that should not stop the run.
We have strong convergences and bullish crosses on indicators.
When RSI passes 50, players on the market will realize we are probably not going to lower levels as suggested by many.
Confidence will come in and the snowball effect could start again. This time altcoins (not just BTC) should bring a significant rise in the Crypto Market Cap.
Check related ideas in the link below to get to know why we are 90% sure this scenario will happen.
THIS IS NOT FINANCIAL ADVICE.
Remember to trade safely!
If you want to thank us you can hit like and leave a comment. Thank you for your support.
Comment:
Seems like its made ABC corrective waves since 0.618 Fibonacci level held which is a bullish sign also.
Comment:
This graph above is alts only (excluding BTC).
Comment:
Raise delayed
Comment:
Support should hold due to sentiment also:
Comment:
We bounced from support as expected!
