We are forming a Broadening Wedge pattern on the 4 h chart. The pattern has almost the same percentage chance breaking out on upside as it does on the downside. The target on this one is 3k from the breakout point. Only time will tell where we are going.
This chart contains few simple indicators that I am using while trying to determine if we have any kind of a trend or not. The Average Directional Index, the MACD and the 21 EMA. From the chart we can see that the ADX is slowly going down. This means that we are cooling off from the last bull run that we had. We can also see that the MACD is pointing down and the...
This is the log scale chart and we are close to testing a long term support level. The problem is that the MACD is looking bearish as well. We have a good probability of breaking the line. If we do unfortunately the next long term support is in the 2000- 3000 range. Can you imagine the state of the market if BTC goes to 3k? We are talking LTC in the 50s, ETH in...
We are forming a huge inverted pennant pattern. If we do not have a green spike literally today or tomorrow we can be in a world of a hurt.
Some more random 2018 projections.
The multiplier from old cycle retracement to new cycle high last time was 22 times. If we repeat the same thing from the end of this cycle retracement to the new cycle high we are looking at 132k target for this year. There is no bias here, I am just assuming that we are going to repeat what we did last time, and we might not.
It seems that we are forming inverted flag again. I guess it all depends what BTC will do. From the looks of BTC it looks neutral- bearish. I think we have a higher probability to make new lows, buy its just an opinion.
Seems like the resistance line is holding strong. Probably we are going to retest the support level.
The picture on the 4 hr looks pretty bearish. I exited my longs at 170, hoping to buy back at 142.
We just broke out of the resistance line created by connecting the two high points on the daily chart. Looking at the daily chart it is very bullish and we should be able to break out, however the weekly chart is still not fully bullish, which means we should have a consolidation period at these levels for maybe a week or two.
We are on the cusp of a break out on the crypto. Unless BTC takes a dive this is breaking out very soon.
Hi all just wanted to post a chart with two very important support levels for BTC. If the support line that we currently are on doesn't hold, we are looking at prices between 3 and 4k.
We are currently in a monthly trend. This is a weekly log scale chart containing the 21 ema. I drew the support and resistance lines of the crypto currency since the bull run began. In my oppinion we are safe if we can keep closing above the 21 ema on the weekly chart. You can visually see where the next targets are on the resistance line (if it holds), if it...