It can't be this clean, can it?
BTG made multi year retracement to the 0.786 level and has not broken above the previous trendline that acted as support.
After faking rejection at the 0.618 level, SPX has made a push higher to the trendline and to the 0.786 region. Anybody in Jan 20 expiration put options is now sweating due to consolidation around the 3985 and 4100 levels. Time is running out.
Although both charts look identical, RIOT is further on its retracement journey in comparison to MARA. Watch for the leg lower on BTCUSD to fuel a leg lower for RIOT and MARA.
As crypto continues to consolidate, MARA is back to the June low level of $5.42. This is only a 50% retracement from the Covid lows to the BTC 69k peak. Wherever MARA chooses to bounce, there is a 100% flip that should follow.
Using multiple indicators, it seems as if NVDA has met a major reversal zone between the 0.618 and 0.786 Fibonacci levels. This aligns with the upper VWAP level one standard deviation higher than the VWAP level.
Pair this with a overbought RSI and a crossing MACD, and it looks like a reversal is on the cards for NVDA.
Happy Fibonacci Day!
Looking for reversal upon the 0.618 or 0.786 zone, this chart is right in line with USOIL, unlike GUSH, which is lagging well behind USOIL. Building a solid bottom along the 0.618 level. If USOIL moves lower to the $72.00 range, we could see a prime entry at the 0.786 level on UCO of around $20.90.
DYOR
We seem to have a double top forming at the 0.786 retracement level on this bearish Fibonacci. Will GUSH continue to lag behind USOIL and drive up one last time to fill the gap at $225.00 on a daily wick before moving downwards and catching up with USOIL?
GUSH has been on an uptrend for 2 years and 8 months and has followed many Fibonacci sequences during that time. Will the bearish fib play out, reverse from the 0.786 zone at $210 and fulfill the -0.27 extension of $77.64? This would align perfectly with a bullish Fibonacci sequence drawn from the low in August 2021 to the high of June 2022. On the bullish fib,...
