An unmistakable inverted head and shoulders pattern is developing on daily, which is to be confirmed by a breakout past the neckline at 59000 accompanied by a surge in volume.
Target from this breakout roughly corresponds with 1.618 Fibonacci extension level of 67000.
Previously shared a potential Cup and handle chart for ETHUSD. The cup and handle pattern was invalidated but a breakout has now occurred from that range
ETHBTC falling wedge breakout will be confirmed by daily closing. First breakout target 0.039 BTC ($2300)
As previously charted, Bitcoin corrected to low 40s (43k) and is on its way to $70000 from a C&H breakout on daily which is pending confirmation by close today
A test of the Fib Extension at $74000 for resistance is expected from this breakout
ETHUSD is on the brink of a textbook Cup and Handle breakout. Once a breakout is confirmed, the first target would be $2350.
This potential bullish market sentiment for ETH is confirmed by a bullish divergence on the ETHBTC as well.
This is the max pain scenario. It's not a guarantee but seems like a plausible short-term bearish outlook
For now, we bounced off R/S flip at previous extension @ 44800 (That's why it's important to test extensions once breached), closed past 23.6 (46300) on daily + bullish failure swing reversal on 4-hr
Demand will inevitably peak at the top of the falling...
After being instantly bought up twice at Fib 38.2, BTCUSD has settled into an unmistakable falling wedge and could be breaking upwards soon. Target for this breakout would be $48500. Wedge breakouts are typically violent and confirmed by significant volume surge so keep an eye on volume each time there's a breakout attempt. There has been a breakout rejection...
BTCUSD has broken out of the contracting wedge pattern identified in the last idea (linked below) backed by a good surge in volume
Given the momentum here, breakout target of $25,300 could be secured in just a few sessions.
After securing the target from the rising wedge breakout (check linked idea), BTCUSD 4 hour chart has now taken the shape of a contracting wedge/symmetrical triangle.
While often interpreted as a continuation pattern, like all triangles, a symmetrical triangle is a neutral pattern with a slight continuation bias (bullish in this instance). This could soon break...
Last week, Bitcoin broke out of the RSI trendline on daily and, propelled by a bullish failure swing on the 4 hr chart, vaulted beyond 20k to enter uncharted territories. It took a few days for the price to settle down and establish new levels of support and resistance. With the parabola out of the way, the price has now settled into a rising wedge pattern (no...
End of the month is always a tumultuous time in trending markets. Fund managers look to review their positions and take some profits off the table. BTC/USD also had to contend with some FUD this past week regarding regulation in the US.
Two successive daily closes reclaiming the 23.6% Fibonacci retracement level indicates that, for the moment, bulls very much...
Dec 2012 - $13 (First halving year)
Dec 2013 - $1000 (Four-figure breach)
Dec 2016 - $800 (Second halving year)
Dec 2017 - $20000 (Five-figure breach)
Dec 2020 - $19000? (Third halving year)
Dec 2021 - Six-figure breach
In late-2016, early 2017, we retraced 61.8% (fib) before building back up throughout 2017 to $10000 for the first time and beyond. You can...