btc is ticking away. which way are we going to go? i can see why we go to 20k. buttttt im thinking we break up, if we breakdown we can throw all other bullruns out the window and we have nothing to base bull runs off of anymore. if we dip i think itll be quick. but like always set up for both scenarios.
eth will breakout this week sometime. (same with btc) everyone has been calling dead cat bounce. i still stick to my double bottom theory. now can we dump? of course we can. gotta play both sides and have a plan for both! the lines were drawn on the 4hr tf.
heres another bigger view look at eth. lots of resistance above us. falling wedge should bring us to first resistance. now if we can break out first resistance successfully this week then we could start looking bullish.
as we get more info in, we can make some adjustments to our chart.
cake broke down but came back up. a fake out to the down side? i think t/a when market this undecided is almost impossible. so take this with a grain of salt.
obviously anything can happen just because we break out doesn't mean it won't come back down. especially on weekends. there wasn't much volume, but last time there wasn't much volume on a breakout we hit over 4k. market is still very uncertain. target would be top of wedge. and as always price has to zig and zag. its a target not a for sure thing.
we continue to make higher lows even on the daily. so if we just good off of top of wicks btc will make a move to break up or down this coming week sometime. pretty much if we break up target will be roughly 50k and if we breakdown target will be roughly 20k. this doesn't mean we are going straight to the target could take a week or so of price action. price...
we have a descending triangle on a weekend. should see a move within the next 48 hours!
people are clearly still interested more in altcoins despite people putting alts into bitcoin. we got rejected off the 50 dma and the 21 failed to hold. will bitcoin trend sideways while alts continue their journey? will we have another defi summer?
here is what im looking at for btc. if we break support it won't be good. but i don't think a dip would last to long with all the stable coins in exchanges (whales are waiting to buy the dip) if we break resistance/neckline target would be 49k.
one of my favorite projects along with polkaswap! as with everything we see inverse h/s breaking! target is $25 now it probably won't be easy getting there (if we do) market is volatile and im sure the price will zig and zag. won't be right to $25. be sure to use stop loss.
just as with almost everything inverse head and shoulders seem to be playing out. but careful with trades market is still volatile. never thought id be so happy to see $20 on cake again haha.
my last chart was wrong i drew on it wrong and i didn't realize it lol. on the 4hr chart (not the 1hr) we see the inverse h/s playing out. the golden pocket is in confluence with the target of close to $3600! now it won't be easy to hit target we will run into some good resistance. if you take a long make sure to take profits along the way!
everyone calling for dead cat bounce, literally everyone and their grandma. so i think its possible but any dip with a reversal makes a dead cat possible.. but i doubt it with everyone saying so. that being said there is the most stable coins sitting in exchanges since covid dump. so whales want a good low price. ive been calling for a double bottom and so far...