Hello everyone , If we look back in history at the previous rally of 2017 at the beginning on the weekly chart we had 6 consecutive green candles before touching close to the previous ATH and had a 3 candles retracement. At this moment we are in the 4th week of consecutive green candle, that means that in another 2 candles we will reach our previous ATH or close to that.
Please take also in consideration that every weeks candle bottom is touching the top value of 2 candle before. It means that if this week we will reach a top value of 200 next week we will retrace to our previous value from last week around 165.
Let's see if this will play out correctly.
Wish you all a good trade.
Please take also in consideration that every weeks candle bottom is touching the top value of 2 candle before. It means that if this week we will reach a top value of 200 next week we will retrace to our previous value from last week around 165.
Let's see if this will play out correctly.
Wish you all a good trade.
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Also a fact is that right now we are trending on the daily chart in a rising wedge pattern, exactly like the one's that BTC and ETH broke to the upside, so i am expecting the same outcome.