LEND.BTC (Y20.P3.E3).Price Action explained

١٤ أغسطس ٢٠٢٠

Hi All,

LEND BTC pairing just went through a Parabolic curve pattern (with 4 bases) and peaked with a nice pullback to an expected fib. level.(0.5) macro level.
This reminds me of 2 scenario's. The early stages of the BTC bull market which had 3 or 4 parabolic runs.

OBSERVATIONS:
> Daily chart: 21/34 EMA recently tested and passed with a double top.
I have a fractal on the BTC that gives an insight what its likely to do, chart below.
> Daily indicators show downward pressure however not a strong pressure as the MACD will likely bounce off the signal line if it comes to it.
Phoeix shows the downward pressure energy with the 2 RSI crossing reflecting both the MACD and stoch.


THOUGHTS:
I am of the opinion that we will come out of this like the fractal below with another parabolic run to this current one.
As per my initial chart, we have the 21 ema daily tested and a double top with the 2 fib levels tested, so leaving one more fib level to test before going to the upside again.
Depending on the market SP500 or Gold PAUSE\go sideways, then it is likely for LEND and other ALTS to start the next their run.
NOTE: SOL and LINK are probably peaked and will do what LEND has already done with some formation of consolidation.


Please give me a tick or like for this effort.


Regards,
S.Sari

PARABOLIC curve pattern\structure


Daily chart: 21/34 EMA recently tested and passed


BTC Fractal likely type of pattern after a parabolic run that has a double top follow through




SOLBTC comparison