ALTs and Bitcoin monitoring
In my opinion, Alt Bull depend fully on Ethetium. Though, if bitcoin goes bearish again, then we will see no Alt bull at all. So I will continuously be monitoring both.
On bitcoin, we can observe two chart patterns, Head and Shoulder, and Inverted Wedge.
1. Right shoulder was uncompleted and we can see neckline doesn't hold. The short-term downtrend was stopped by 0.618 Fib.Ext and one of the internal trendlines.
2. Inverted broadening wedge which is bullish formation. I expect the price to reach the highest high of the wedge over the next few days with plenty of fake bounces.
ETH:
A Potential bear flag is forming. On bottoms, volume profile is not fully bullish, so if the price will reach 0.382 Fib, I won't be surprised.
Will monitor both and update later.
Happy trading!
On bitcoin, we can observe two chart patterns, Head and Shoulder, and Inverted Wedge.
1. Right shoulder was uncompleted and we can see neckline doesn't hold. The short-term downtrend was stopped by 0.618 Fib.Ext and one of the internal trendlines.
2. Inverted broadening wedge which is bullish formation. I expect the price to reach the highest high of the wedge over the next few days with plenty of fake bounces.
ETH:
A Potential bear flag is forming. On bottoms, volume profile is not fully bullish, so if the price will reach 0.382 Fib, I won't be surprised.
Will monitor both and update later.
Happy trading!
Nota
Broke support. My next target 20dma and 0.5Fib
Nota
Falling wedge
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.