Near term support and 1.618 FIB level (ultimate support) for $BTC. A weekly close below the 1.618 and the $28.8K low shifts my own sentiment on $BTC to bearish
I had promised to detail a chart on Twitter as to what would cause me to change my Bullish Tune. The only way I turn bearish is on a WEEKLY close under the 1.618 Fib and the weekly 50SMA. The two are almost identical in price, and any meaningful price action under them would trigger a possible impulse lower to the low $20K's. Let it be noted I am firmly Bullish. ;)
While its near impossible to predict when a security or crypto is going to break out of a pattern, there are hints. The attached chart details the time frame of when we launch out of our Arc based off of Fib Time extensions. My best guess is July 10-July 30 we see real fireworks. :)
What the $USD matters. While $BTC can go up with the $USD and down with the $USD, the two tend to react in opposite directions. The chart attached details this inverse relationship. What matters in the intermediate term is will the $USD reject at its key 200MA and overhead resistance, or will it break out. That directional move will be what determines if $BTC has...
To wit we have had multiple price taps on this Price Dome (Arc). Once Price breaks, the Move on $BTC will be quite large. If your a Bear your hoping for a price breakdown BELOW $28.8K
The attached is a simple chart to show what a pathway to $100K+ $BTC on January 2022 would look like. I am NOT suggesting it will, as I believe we will go to the 4.236 Fib, but for our moon boy price options I am listing it. :)
The attached chart is the Full Fib Ext of the S&P500 on a monthly time scale. Sometime during, or immediately after, the second half of the year, I expect a Full on Deflationary collapse. I see a collapse of the entire Risk Complex including, but not limited to, equities. Only a few hundred points to go! Tick Tock Tick Tock....
The chart attached is a very detailed version of two fib structures, their corresponding crash lows before new all time highs, and the suggested move based on the Full Fib Extension of $BTC from 2017 Bull top to Bear bottom. It is my belief that we have a bottom in place, and that the 4.236 Fib remains a magnet for price. The BIGGER takeaway is that $BTC is...
I like the way things Flow. I also like how Fibs work. When you combine the two you have a perfect ying and yang. While I am not suggesting $EOS cracks over $90, I am not saying it isn't either. ;)
Sometimes it helps to know what your in. Until we break key supports, $LTC is in a Macro Bull Market!
Based on our prior 78% drop we saw a robust rally of over 1300%, will History repeat? Time will tell. :)
$ETH Price Channel I am not suggesting $ETH is going to $10K, and I am not suggesting it isn't. What I am suggesting is that it has stayed within the confines of this channel since $100, and now all of a sudden everyone is Bearish. Until the trend breaks, the Bulls remain in firm control. I am buying the dips!
Another perspective of our Shooting star candle body that is now back within Inverted Channel.
If we close this weekly candle this way, expect a MAJOR BOUNCE on $BTC in the days ahead!
Amazingly $DASH has tagged its mid cycle peak and stayed ABOVE the bottom of the trend channel, in spite of recent weakness in $BTC