Hypothesis where a similar pattern than in 2016 halvening is repeated for 2020.
In case of a repetition of last ATH -> halvening in 2016, we would start increasing in value 80 bars before the halvening taking place mid may 2020. This would mean we are at around 6 weeks of the consistent bull run for BTC. Also, there is a historical support never broken for many years, meaning we won't go below 6000.
EMA200 and 6600 resistance being at the same place, there are chances we see a pull back toward 6400 at that position. In case it break out, we could see capital flowing into alts and BTC heading slowly towards 7100 - 7400 range. A plan here would be to sell at 6555 with a stop loss at 6610, buy back at 6430.
Expecting a double bottom on BTC/USD at 6240. Selling now with stop loss at 6394. If stop loss is hit, target become 6491. If is not hit, target at 6240. BTC is showing weakness and we are reaching a compression on the price starting on January until end October.
We have a pennant with a compression happening on the 6400 - 6200 range, while price has slide down slightly, we see the EMACD rising and the RSI show strength. There is also a bullish divergence, and the number of longs has seen a small increase. There is still a way larger amount of shorts that is near the ATH. If BTC break the 6455 USDT, it would probably mean...
If we compare the last triangles, we can observe the beginning of the triangle has a strong down trend, then it get soften, but still bearish for a time. This is a hypothesis based on a pattern repetition. On the short term we could test 6800 before sellers get back the control.
BTC is going to follow the dotted support, and confirm the bear trend once it break the red support. Adding a stop loss on the first green resistance.
Multiple indicators quite bullish, it could enter a bull cycle as it's on time inside the cycle happening during this up trend channel
It should clearly break the 0.0055 BTC/NEO resistance to validate.
We can find a shoulder-head-shoulder shape, if validated by breaking the 4000, sell targets could be reached.
RSI and EMACD are bullish and the price is on an up trend flag.
If we look carefully at the inclination of the trends lines since last December, we can observe how the bears are getting weaker. It the pattern continues, we would reach a point of trend reversal, and a bull trend could start to form. I'm talking about a 3 - 4 months time lapse.
We can see a pattern repeating in cycles, the highest leads to a lowest and an up correction at 50% de dip. We are exactly at that point and therefor, an hypothesis is that the same pattern repeat a third time.
We are reaching strong support lines, volume is at its lowest and we had a long bear cycle of almost 2 months.
We are entering a bull run cycle and ETH will most certainly break the resistance and reach $700 and above from now to next week.
ETH down trend, revert at past highest
A mid long term bullish trend with a possible short correction.