Ever since the 9th of November we have been in a downtrend for the Bitcoin priceaction. During this correction we could follow this downtrend with an almost perfect trendline. At this current time we are breaking out potentially signaling the end of this correction and continuing the bull market.
This is very similar to the September correction, where we could...
There are a lot of people 'short-term bearish' but 'long-term' bullish. This means that a lot people expect further downside before the market moves up again. How do you know when we have the reversal to the 'long-term' bullish phase? This is an easy answer, look at the price action. How to read the price action then I hear you ask, valid question. Look at the...
There is a falling wedge unfolding on the Ethereum price action. A falling wedge is a pattern where lower highs and lower lows get pressed together which and most of the times break out to the upside. Target would be the top of the wedge which is around the 4800s. If we fail to maintain within the pattern we can definitely see lower prices for Ethereum.
Ethereum is at a make it or break it moment. It is currently trading on a significant upward support line. We want to see a bounce here otherwise we will definitely go to lower prices. We have already seen over a 20% correction for Ethereum from its highs. Taking a Fibonacci from the previous low on the trendline to the highs shows us that currently the 0.5 level...
Bitcoin is forming a significant triangle on the 4hr aswell as the 1hr timeframe. A breakout is inevitable. Breaking the triangle to the upside will bring the Bitcoin price to the 56k level, which could make perfect sense since the 56k level is quite a big resistance. However breaking the triangle to the downside will bring bearish price action for the coming days...
With bitcoin correcting a bit over the weekend, we could be looking at a bigger correction wave playing out before we move up again.
Corrections most of the times play out in 3 impulses:
1: The initial leg down
2: A relief bounce
3: Second leg down
The target of the 3rd leg can be easily measured by a trend fib and most of the times has the same length as the...
