As time goes by, the markets evolve.
More visible, more probable:
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns / support or resistance
-Dotted lines; Possible price-action trajectories
It has almost been 90 days since last big break out to the downside. It's most likely that market cycles in the shorter time frames are ending. A retesting the resistance of the beta trend is highly possible. Regardless that there are possible bearish pattern formations forming in the lower time frames. When you look at the timeboxes, it is looking pretty bullish. It should be time to retest the resistance of the FW, just before or on Christmas. Although keep in mind that this could just be a coincidence. Nothing is for certain with crypto markets. To be concluded...
Summary of the prominent trends:
Long term trends:
-Alpha Trend line, ST/Pennant: Not on this chart.
-Beta Trend line, FW: Orange line.
Mid term:
-Possible Descending Triangle forming, follows the purple trend line
-Falling broadening wedge, follows the aqua trend line
Short term:
-Bart Simpson, not drawn on the charts but this is a possible pattern
-Ascending Triangle.
In case you're wondering which indicators I'm using. She's called EMI , short for 'Epic Market Indicator' and it's a collection of diverse indicators.How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Be careful and good luck traders!
More visible, more probable:
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns / support or resistance
-Dotted lines; Possible price-action trajectories
It has almost been 90 days since last big break out to the downside. It's most likely that market cycles in the shorter time frames are ending. A retesting the resistance of the beta trend is highly possible. Regardless that there are possible bearish pattern formations forming in the lower time frames. When you look at the timeboxes, it is looking pretty bullish. It should be time to retest the resistance of the FW, just before or on Christmas. Although keep in mind that this could just be a coincidence. Nothing is for certain with crypto markets. To be concluded...
Summary of the prominent trends:
Long term trends:
-Alpha Trend line, ST/Pennant: Not on this chart.
-Beta Trend line, FW: Orange line.
Mid term:
-Possible Descending Triangle forming, follows the purple trend line
-Falling broadening wedge, follows the aqua trend line
Short term:
-Bart Simpson, not drawn on the charts but this is a possible pattern
-Ascending Triangle.
In case you're wondering which indicators I'm using. She's called EMI , short for 'Epic Market Indicator' and it's a collection of diverse indicators.How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Be careful and good luck traders!
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