The price action managed to stay above the .886 and we got our first bullish marubozu candle in the PRZ. My target is the .50 to .618 because the price may reverse there if the cypher turns into a bearish 5-0
Looking for a dip to create a right shoulder
Using a Fib channel on the RSI it shows the Jan 2019 bottom was established from the 3 previous anchor points. It also shows the bull market starts once it crosses the heart line of the channel / 70 on RSI (Monthly). The green ascending line of support from 2015 is very close to making contact with current price action. If it holds, there can be an ascending...
The Price Crossed the .618 'Trend based fib time zone' at the same point it hit the .618 retrace. Guess thats all there is to it.
After LTC's 2017 run it retraced 95%. Price action created a falling wedge which broke and went sideways before falling below the .886 retrace. - Currently LTC is in a falling wedge similar to 2018. - If price breaks and shows no strength we can continue selling off. - A possible Bullish Bat pattern is in play with the 95% retrace also being a 2.618 of B-C Leg. -...
BTC hit the square up from the last chart I posted. A retrace no deeper than .618 will be a good sign for continuation.
Bullish divergence on 60 min at entry for bullish bat. Looking for a reversal to the upside with a possible square up.
Green Box highlights the 50% retrace of major swing low to high as well as the most recent swing retracement levels. If BTC gets a strong bounce from highlighted area, the next bullish signs to look for is a break of up-sloping resistance with a backtest in the new trading range. Fibonacci time zone from 3k to 13k shows BTC will enter Golden Time Zone around Sep...
- The Cypher has a PRZ around $8500 with a .786 and 1.272 D-point coinciding with the .50% retrace of major swing low (3k) to high (13k) - The Bat has a PRZ around $7300 with a .886 and 1.618 D-point coinciding with a .618 golden retrace of major swing low to high as well as the .236 or major swing high (20k) to low (3k) With the bears in full strength it would...