$BTC Weekly Chart continues the "Troy Polamalu" Head & Shoulders pattern from July, with right shoulder unable to invalidate structure. $53k remained out of reach, with resistance strengthening sub-$50k. Continued sideways price activity becoming increasingly bearish with likelihood of further price degradation. Critical week ahead.
Bitcoin blew right through $48k down to the diagonal support line, right back into the horizontal range Expectation: Close Weekly @ $48.3k Week 1, 2022 will quickly present indication of continued bearish breakdown or the beginning of a rally Massive Head & Shoulders pattern in play and if BTC doesn't get above $52k quickly, then very high probability of bear...
Trend defined with downward channel and clear sell pressure when upper channel hit. Price drop and recovery channel defined by trend.
Following VWMA on 6 hr time-trame, the bearish structure follows the George Lindsay 3 Peaks & Domed House. While this is not a daily chart, the framing is strikingly similar. Serious divergence in overall market, resulting in likely major macro-economic correction impacting all markets in 2022. Macro factors likely driving plunge further past long-term center...
SWAG = Scientific Wild-A$$ed Guess: $ETH projection determined using long-term parallel channel and intersections. I am curious to see how this projection plays out as 2022 progresses.
Bearish structure continues... HOWEVER... Exchange outflows are increasing, indicating "whales" are establishing a support level. Macro-economic factors have major potential for crypto surge in Q1 2022 as a result of wealth preservation efforts. Currently expecting continuation to bottom of channel ($13k to $16k)... BUT the likelihood of a near-term crash...
Sizeable $DOGE Bull Pennant formed... breakout imminent. Sharp downward wicks indicate strong support with downward resistance being tested consistently since late October. Support & Resistance reflected via Fib Retracement along with Candle Open/Close.
Move to $13.00 before reversal. Great company to explore in the emerging technology space, focusing on quantum computing.
$BTC continues to see sell pressure and loss of support levels. $45.7k support currently holding, breakdown of support highly likely. Point of Control at $48k becoming significant resistance. VWMA preparing to cross the 200 EMA with $41k expected price target within next 2 weeks.
Crypto mCap to $2.1 Trillion in near term before beginning movement back to $3T
$DOT with parachain auctions & project implementations leading to 4x from $25 to $100. There will be peak & valley candle wicks... price targets and growth will be consistently met. Expecting this to move counter to overarching economic downturn.
COTI support at bottom of long-term channel, downward sell pressure will be minimal and unable to break support sub $0.285. Project has a lot of activity, catalyst events for bullish reversal for COTI are plentiful. COTI to $1+ in Q1 2022 with $DJED algorithmic stablecoin in the Cardano ($ADA) ecosystem along with other milestone accomplishments.
Bitcoin continuing downward movement, bearish structure remains valid. Consistent lower highs, consistent inflows of BTC to exchanges. $46.7k next stop. Major support around $40k.
Weekly close going into Monday 12/20 is going to be really interesting. Do not expect support line to hold... likelihood is break to downside. Next support @ $42.5k... likely bounce off of $42.2k with a wick touching $41k. A lot of support around $41k... that is going to be an interesting bull vs. bear level!
ETH has tested the top of the channel and has formed a double top with loss of support. Price target $3.2k to $3.4k How ETH reacts to the testing of mid-channel support is key area to watch. Loss of mid-channel support will result in a significant downward move, likely to the long-term channel floor $16k to $17.5k area.
Continuation of downward channel with last 9 hours following the top... sell pressure/resistance will dry up. Target $0.191 Because... why not. It's THE Meme Coin OG.
As the crypto market matures, Bitcoin dominance decreases. This is a positive development for the overall market as blockchain entities distance themselves from Bitcoin's influence.
Sideways chop with lower $50.8k high likely to be established as resistance after $51.8k confirmed resistance last week. Culmination for descending wedge approaching with decision point by 12/22.