CRYPTOCAP:BTC weekly is looking very strong after spending majority of the year below 31k, I believe we are now leaving phase 1 of the bull market and entering phase 2. Expecting 30k to be our new support and the mid 40k-50k to be resistance until the CRYPTOCAP:BTC halving April 2024.
$BTC Short term view, looking for a bit more upside, before a pullback in the next couple days. Option 2 highlight in red if BTC breaks below $21,000 1st. Would like to see $BTC hold above the 0.236 level @ $20,100 for a continuation to the 23.5-24.5k where this rally should stall out.
$BTC bearish path continues to be playing out and has wicked below the 20k ATH support, also for the 1st time in history went below its previous ATH after making a new All Time High. Bitcoin is now down 70% since the 69k ATH, most $BTC bear markets end around mid 80% range which still targets around 10-13k for $BTC. I suspect we continue to bleed out until that...
$TSLA new bullish count, still looking for a rejection around the 0.702 fib area $1075-1120 where a pullback is likely, however instead of a new low into the $600 area, looking for Tesla to hold above $900 now where it can then make a move to $1240 next and possible new ATH.
$AAPL made a nice reversal from the weekly demand zone at $151, however it is now extended as we are in very overbought levels, looking for a move back to retest the trendline would be healthy. $AAPL faces heavy resistance around the $178-181 area where it will likely have a pullback before going to make new ATH.
$TSLA has completed a clear 5 wave structure down, its currently in a ABC bounce up with a C leg down still to come. If the 0.702 fib level at $1080 level is not taken out, this recent bounce was only a relief and the stock can test and break the recent low of $700, likely taking $TSLA to sub $600 next.
Bitcoin Cash made a double bottom at $260 looks ready to make a move up $BCH Long @ $310 Target @ $500 Stop loss @ $260
$BTC Long-term view, every 208 weeks Bitcoin made a top and drop around 85% from its ATH. Next bottom is scheduled for around November 2022 with $10,000 as a possible bottom target, before $BTC goes to start its next cycle likely above $100,000 by October 2025 the next 208 week.
$BTC midterm has finished it trendline back test and starting a bullish impulse here. Still look for Bitcoin to reach the mid 50ks next. $56k-58,000 is a very critical level, traditional in a bear market the 0.702 fib is a rejection point for a retracement bounce before the assets goes to make new lows.
$FB had a bad earning report. Looking for $FB to gap fill around the $235 demand zone where it might get some bids
$SC is currently down 86% from its ATH. Looking past at Siacoin history it generally bottom out after retracing 80%+. The 4.236 fib of $SC has a target of $0.30 which is a 3500% from today current price at $0.009. Starting a spot long in $SC here
$PLTR on the weekly shows no signs of buyers steeping up yet, likely continues selling into the low 10’s where it can bottom a the lower long term channel support.
$ARKK has had a large selloff after making a blow off top past the 4.236 fib last year, currently down over 50% from the highs. I believe the bottom is in around the 0.618 fib here in the $77-80 range and $ARKK can start a recovery with targets of new ATH $200 minimum. Starting a long term position here in $ARKK at $80. Buy @ $80.00 Price Target @ $200.00
$SPX hit a rejection at the 0.702 retracement fib 4745 and potential could be in an ABC correction that could be the start of a larger selloff down to 4400 eventually. $SPX is now currently battling the 4645 area, a break above 4650 should take it to 4700 next where it’ll face resistance and likely resume a downward trend. $SPX breaking above 4745 will invalidated...
$BTC has dropped 42.5% from its top at $69,000. Historically after a 42-43% brings a good bounce for Bitcoin. Many are turning bearish now at the lows in my opinion. Looking for Bitcoin to start a retracement to the mid 50ks short term. However, $BTC is still in an overall ABC correction where I’m expecting it to drop below the 30k range by the 2nd half of the year.
$BABA currently at monthly supports looking like a good area to start a long-term position. After rejecting at the prior bull cycle 4.236fib at $320. If this hold as bottom area for its next bull cycle we can look at $1000+ being the next possible top.
$SHIB looks ready to finish its consolidation and start breaking out to the upside here soon
$TSLA hit $1200 for a gap filled and is now consolidating its way down, looking for it to hold support around the $1025 area. As long as price stay above previous low of $980, Tesla should stay consolidating in this triangle pattern before breaking to the upside targets of $1400+. A break below $980 can then $TSLA can possibly go down to fill the open gap at $900.