Next target for $BTC around 83KFrom the last wordwide events, next attractor for CRYPTOCAP:BTC is the green box
Why? CRYPTOCAP:BTC has broken out from the flag pattern and already made a retest from the ceiling, also breaking out from past Fibonacci Circle resistence
Note how the Fibonacci Circles have been serving as pivot and resistence points!
Next important Fib Circle resistence lies over the light blue continuous line and the target of the flag lies at the purple arrow right over the all-times-high!
So, there is confluence! We have flag target, plus ATH, plus Fib Circle resistence
The dotted blue line is a very important multiyear resistente and is very plausible that over it will be at least a bull trap taking CRYPTOCAP:BTC to that resistence line (dark blue continuous line)
Multiyear
EURGBP Is Bouncing From Multiyear SupportEURGBP is bouncing from multiyear support and cyclically speaking, we may see a recovery at least back to the upper side of a range.
EURGBP hits multiyear support and it’s trying to wake up away from the lower side of the range. Even if the price will stay sideways, it can rally back to the upper side of a range, especially if we consider monthly cycles.
Looking at the daily chart, from Elliott wave perspective we can see a nice bullish setup formation with a leading diagonal into wave (A)/(1), followed by a three-wave correction in wave (B)/(2). So, respecting the wave structure seems like a wave (C) or (3) is now in progress, which can send the price to the upper side of a range, at least for wave (C) towards 0.88 – 0.90 area, if not even higher within wave (3). Keep in mind that either its (C) or (3), in both cases we need five sub waves up (black letters), thus it’s room for more gains in the short-term.
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ITP has three year resistance in sightThis is the weekly view of ITP. With a float of less than 25 million shares, and around 25% of them short, this chart looks primed for a short squeeze. Today, volume was about 5x the recent average, and was close to double the overall float. Based on the weekly chart, the next level of significant resistance is around $1.50/share. The stock closed at the highs of the day, and after hours it's up even further. If ITP can continue through $1.50 tomorrow, the next area of major resistance is around $2.00, suggesting a potential 30-40% upside from here.
An Interesting BTC Fractal I Will Be Paying Attention To I recently read a comparison made by Tuur Demeester in which he described Bitcoin, in its current state, as essentially shaking off the barnacles of zombie ICOs, similar to how Amazon had a boom and bust during the tech bubble only to arise from the shadows of Pets.com and other vaporware to become the trillion dollar company it is today. If one subscribes to a long term BTC bull thesis (as I do) - this fractal will perfectly fit your narrative. All jokes aside, this analogue is fascinating, and it will be truly interesting to see how the reaccumulation phase plays out and whether or not the fractal shall continue to hold. Cheers and happy trading!
XRP LONG - Winters Algorithm XRP LONG - multiple confluences. first - the use case. XRP is rocking and rolling, and beating to the sound of their own drum. fundamentally, they are one of the most motivating companies across all spaces. positive news is released daily about this particular asset class.
technically - many areas to focus on. the liquidity pullback and retest is a clear sign that support is in effect. the slow bear trend has been creating a solid consolidation area to buy from. we have finally retested that previous area - and are looking for a slingshot style candlestick.
we all know what happens when you tap on the glass for long enough. it shatters. prepare for turbulence northbound.
good luck. these are my personal visions and opinions. make your own.
Best,
Winters