This chart represents a repetition of the bullcycle from 2016. A double exponential move with corrections.
It looks like the W bottom may have been tested (is it enough?).
We now need to break up out of the falling wedge and enter the ichimoku cloud before EOY.
The light blue line then needs to crossover the purple and we're bull above the ichimoku for the 1st exponential move.
Target 150-230 towards halving and if so a fast rise to 1400 after halving.
Subsequently a larger ABC correction to previous ATH around 500, setting up for a 2nd exponential move that will top out between 15k and 45k.
It looks like the W bottom may have been tested (is it enough?).
We now need to break up out of the falling wedge and enter the ichimoku cloud before EOY.
The light blue line then needs to crossover the purple and we're bull above the ichimoku for the 1st exponential move.
Target 150-230 towards halving and if so a fast rise to 1400 after halving.
Subsequently a larger ABC correction to previous ATH around 500, setting up for a 2nd exponential move that will top out between 15k and 45k.
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Nearing the lower side of the Ichimoku cloud. Patience is a virtue...
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Upper wedge line needs to be adjusted to include the last couple of candles.
I will post an updated chart soon as this develops towards Q1 2020.
I will post an updated chart soon as this develops towards Q1 2020.
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Update with larger symmetrical triangle, which is a continuation pattern in theory visible on all exchanges.
9 out of 10 times it breaks to the upside. We need RandomXmas volume to break thin Ichimoku!
9 out of 10 times it breaks to the upside. We need RandomXmas volume to break thin Ichimoku!
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Symmetrical triangle touch 3
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