I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns:
-Ethereum has fallen below .618 fib retracement and the $275-$280 support level.
-Bitcoin has dropped below it's longer term bullish channel yesterday evening
-Litecoin has dropped below it's 6 month bullish channel yesterday evening
They all seem to want to move down and touch our 200 MA. And while Ethereum and Bitcoin have some big supports to work through until they get there, Litecoin has easier work of it and very well could get there in the next days/weeks.
Whether they dump or not this weekend, I think the downward trend has definitely been validated on my charts and until we escape these bearish wedges/channels, I, for one, will not be looking to reposition just yet. Greater discounts are on their way!
评论:
Dump didn't happen. But now it's decision time!
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Circled our decision point below in purple. This is a daily chart. Bitcoin did not tell this weekend. It moved sideways into the consolidation triangle as far as it possibly could squeeze, thereby, keeping us all in suspense. But now, it has no more room to move. It is forced to make a decision. There is no more lateral movement available. Today is the moment of truth. Will we break out and up OR down and dump? The crypto world is watching and waiting on our lead dog here:
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
