Looks like an Elliott Impulse Wave has been completed. Now waiting for a potential ABC Corrective Wave. This would form a head and shoulders, possibly plummeting the price back down to 42k and below if the neck line breaks.
Used Fib to measure retracements.
We are still in a bulltrend and ETH market cap dominance is growing, but as we all know, everything follows the mothership, aka Bitcoin. I'll be keeping a close eye on this lower high and the current channel for a potential break to the downside.
Stay tuned folks.
I'm looking at a potential short here if BTC can't break this downtrend on its market cap dominance, and if it breaks the down out of the current penant.
I'll be keeping an eye out on the DXY and the current situation with the inauguration of Biden as well.
Stay tuned folks. This could be a big move.
This support looks like it's getting real weak. Bitcoin is going to have to pull a rabbit out of its hat to get out of this one, which it may do. For now, I'm poised to take a short position if necessary.
BTCUSDT about to breakout of a triangle. It's been respecting the supports and resistances, so it's about time we see a big breakout in either direction.
I'm optimistic for an upward breakout, but anything can happen, so get ready to act fast!
ETH made a strong break out of this triangle towards the upside. It looks like Alt season is starting. Time to cash in boys and gals. Started a Long on ETH at 1190 USDT.
Dollar dollar bills, y'all. Let's do this.
BTC is in a triangle formation at the moment. Waiting to see if it breaks out or breaks down. The DXY has regained some strength and BTC dominance is decreasing, so a breakdown is very possible. However, if it breaks upwards through the triangle, I suspect it will go to around 50k in the coming days/weeks according to time theory and price theory in Ichimoku Kinko...
Resistance ahead. If BTC breaks through, it could be quite bullish in for coming days. If the support holds a double bottom, I will look for a long trade. If the support doesn't hold, I will look for a short.