As i eluded to on my previous posts. BTC including a large number of Alt's are behaving like Triangle consolidation patterns. Now, I've seen these fail many times, more so since Futures were launched, because I think there are many more larger players in the game, and they know what TA's are looking for However, the price action recently is encouraging. To me it...
The more I look at the big picture, to me it looks like we are forming large triangle consolidation patterns in all cryptos including BTC. This is the time where large players accumulate slowly. IMHO we will chop for the next few months until we hit the apex of these triangles. I could be totally wrong, and we could crash to the lower lines of the charts, either...
Looks like the ideal correction target zone was hit and we had a bounce. The daily closing candle had a nice bullish wick. We are definitely not out of the woods, but a few observations. All impulses and corrections were textbook. No EW rules were violated. This recovery is similar to the Sept bottom (I believe) I got tricked into thinking it was an ABC...
I wanted to point out that there is another ABCDE Triangle formation that may still be valid for STEEM and the others i've covered such as EOS. These types are common in Crypto markets. But if BTC really falls off a cliff, then the alternate (IN YELLOW) is in play and we have a slow grind to new lows and probably a few months of sideways ups and downs until the...
One positive I'd like to note...there was a very clear and beautiful impulse up from the February bottom which usually of course means a new trend has commenced. It still may be a large ABC bounce or we will see new all time highs. Other indicators and volume should give us some signs, but I wanted to point out this impulse, which still makes me fairly confident...
Looks like a possible flat may be forming, but this post may be a waste of time and futile considering the strength of the downturn today and the lack of conviction on the bounce. One thing that happened back in Sep 17' is that it made the same flat correction before moving up after the setback, so you never know. I'm neutral but still holding until i see this...
As i said before and on my previous posts of other coins or tokens, there are ABCDE Triangle consolidation patterns everywhere...this is large players accumulating slowly. This also seems to fit with the Curve analysis as well. HOWEVER, if BTC decides to shit the bed, all bets are off for alts-obviously By the way, i don't use the large flash crash candles as...
There are loads of alts that are displaying this same type of consolidation triangle pattern, so it could go sideways for a while as BTC establishes it's place this year. However, BCH did the same thing, but broke down when BTC broke down, so stops should be placed accordingly
Despite the FUD on NEO in the last few days, this project is moving on and may do very well in 2018. To me, the fact that it hasn't fallen after consolidation tells me this may be a consolidation triangle which many alts are forming getting ready for the thrust up after BTC commits to a more firm stance....if BTC is just a dead cat bounce, then we will probably...
Unless BTC decides to go sideways for a few months or weeks, to me this could go at any time