Bullish fractal repetition NOV~DEC
Updated
Hi tribe!
The good days are yet to come!
I noted that we are moving in an upward channel for the last 7 weeks, and I did call it 7 weeks ago, you can check out my 1st analysis, i did tend to simplify the update, which is a combination of Fib. channels, and some trendlines and an upward channel.
If I am not mistaken we are forming a Wave 3 of an N formation, posibly. If this pattern plays out, we can expect a maximum target of 25000usd price rougly, and a minimum of 20000usd price roughly before Christmas Eve, if we respect the channel we have been moving in from the beginning of autumn.
Winter is coming, and people will like to take their profits as well. The worst case scenario considering FIb. channel levels is dropping to as low as 14000usd rougly, which I do doubt since we have had a Buy signal on the Hash Ribbons Indicator, which showed previously a buy signal back in July, right before we broke the yearly ressistance going above 10k, and after the March Covid crash right before Halving took place.
We should all expect a good end of the year as most of the year was until now, overperforming.
Let's see what is going to play out according to the fractal.
Like, comment, advices, let's exchange ideas and grow together!
Not financial advice.
Cheers!
The good days are yet to come!
I noted that we are moving in an upward channel for the last 7 weeks, and I did call it 7 weeks ago, you can check out my 1st analysis, i did tend to simplify the update, which is a combination of Fib. channels, and some trendlines and an upward channel.
If I am not mistaken we are forming a Wave 3 of an N formation, posibly. If this pattern plays out, we can expect a maximum target of 25000usd price rougly, and a minimum of 20000usd price roughly before Christmas Eve, if we respect the channel we have been moving in from the beginning of autumn.
Winter is coming, and people will like to take their profits as well. The worst case scenario considering FIb. channel levels is dropping to as low as 14000usd rougly, which I do doubt since we have had a Buy signal on the Hash Ribbons Indicator, which showed previously a buy signal back in July, right before we broke the yearly ressistance going above 10k, and after the March Covid crash right before Halving took place.
We should all expect a good end of the year as most of the year was until now, overperforming.
Let's see what is going to play out according to the fractal.
Like, comment, advices, let's exchange ideas and grow together!
Not financial advice.
Cheers!
Note
Trade closed: target reached
The target was actually hit, and the corner of the box was spot on, the fractal played out in a contrasted way, but with the same beggining and the end.The top of the channel was hit, therefore we have been consolidating in the upper part of it for the last few days. Expect a leg up to around 24800usd soon, of a visit to the lower part of the channel, which is 21000-22500.
Note
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