Inverse head and shoulder pattern. ICX Huge gains ahead!
Not the best looking flag but it is on the daily so its strong. Consolidating for the next move up any time now along with the rest of the market. The market as a whole now that is has not pumped yet may re-test lower support before a next move up or it could go now.
If BTCUSD wins the current fight at the 50 hour moving average. 1 Hour MACD crossover signaling bullish. (also see my previous posts today on massive market consolidation in top cryptoassets).
We have a flag yet again on another chart, this time EOSUSD 4 hour, this has convinced me the market is ready for another huge move because of the massive consolidation on these charts and it looks like the large cap coins will continue to dominate. Well, I don't even pay attention to low cap coins currently (out of top 100) so take that for a grain of salt.
LTCUSD has formed a flag on the 4 hour and is currently testing the top. BTCUSD and ETHUSD are also in similar positions testing resistance from flags (see my other posts).
It looks like BTC has come back into the flag after dropping below briefly.
I am watching for BTCUSD to test again the 50 hour moving average (orange line), find support on it, then shoot up to test the upper part of the flag, break it quickly and pump hard to 9400-10K within a day or so.
Just an update to my post about the BTCUSD flag. I believe it has tested the bottom of the flag enough and will now move up to test the top, and soon after break through. ETHUSD is also possibly about to break out of a flag so it looks good as the market moves together. I expect MACDs for BTCUSD to turn bullish within a few hours as well.
BTCUSD sets up another flag on the 4 hour, which is a continuation (consolidation) pattern. If you also check the bollinger bands on most time frames BTCUSD is not signaling overbought and actually has room to run up to 9300-9400 starting now although consolidation may last longer. Watch out for an incoming Bearish MACD cross, however, if it happens around the...
Simple math I just did although there may be other factors: Circulating supply is about 1/4 of BTC (84,000,000 max) so without considering anything else it should be trading MUCH higher. Just a thought.
Expect a continuation upwards.
Ellipses show consolidation periods. BTCUSD just broke to the upside of the flag I pointed out yesterday. This implies the bull trend will continue. Next stop is the recent highs of around 8350-8400. After that 10K will come quickly.
Another update - BTCUSD no longer in a pennant, but it changed to a flag. Still a continuation pattern as is a pennant
Simply based on the bollinger bands (especially the lower time frames), it does not have much further to drop in the next 0-2 hours and could bounce
This is an update to my previous triangle posts. A great case for the bulls is BTC just set a higher low forming this new triangle which is really a pennant as you can see the flagpole as well. This is a continuation pattern. ETHUSD finished its continuation yesterday (see my posts) so I expect BTC to do the same.
It can be redrawn as so with a smaller and bigger triangle