In my last Bitcoin chart, I covered the monthly developments in the Kraken XBTEUR pair.
Currently we're one week away from the end of the year, and closer to get more clues about the recent developments in price action.
After this week's close, I'll be able to determine the direction in the short term, and after the monthly/yearly close, I'll have a much clearer...
In this monthly chart I have outlined the different support and resistance levels on the monthly chart for Kraken.
I'm using this pair, since it appears to have real volume data and a more legit price action so to speak, unlike that of other exchanges with wash volume , rogue market maker activity and whatnot.
The target for the first monthly signal has been...
Potential break out of ascending triangle. I expect a bit more testing/faking out of the trend line, with the actual 61.8% retrace on Kraken being at €303. Targeting the 38.2% resistance zone, from the €455 - €277 correction. Note values in €uros, not dollar$
We got a nice 5 waves down followed by a 3 waves up with high volume.
RSI shows a failure swing point and IMO the volume will now go down while we enter a first leg up.
On this chart, I did not yet pay much attention to the depth of the up coming waves and it will probably go lower down.
We can see a bit more once wave 1 closes.
This is based on actual resistences and support levels and the other bubbles pattern... it might fail, i am just publishing to observe if there is correlation.
I put the starting point at 316 eur, which is actual price, but it might go down to 200 eur before starting the pattern.
Last time we introduced so called "MontePinos" Pattern that we developed just4fun during a trolling session at tradingview. In spite of being a funny idea, it turned to develop and to predict the last big race from $200 to $900.
This time, the pattern is forming again. Will it accurately predict another big rise? Will we have to consider it seriously if it...
![BTCEUR: [Just2Fun2] "MontePinos" Pattern Again](https://s3.tradingview.com/y/Y3RGEEbo_mid.png "[Just2Fun2] \"MontePinos\" Pattern Again")
