I don't like how the chart looks. All projection does not matter what algos looks like if the chain is bad and it's in big trouble.
So far we did not lose 12.618 fib and a level on a daily close. If that happens, there is a few stuff pointing us to around 15K for start. 1. Fibr Price Projection pattern fibs are 6.618, 9.618, 12,618, 16.618, 22,618... There if we lose 12.618 there is a big probability that we will retest at least around 9.618, and then if that happens, we need to see do we hold...
In the history of the BTC, when we get a blue, buy signal on the Hash Ribbons indicator, we had nice pumps. Sometimes it was macro low, sometimes was not. But on the Smallest end, we had a 33% pump, and we had much much higher. 1. Average Pump before the major correction was around 60%. That was average, but you can see it was from 33% to 240%+- 2. Average days...
We have targets for up, till merging (even 2160 comes at play), and I expect some downtrend. Maybe we can even see $400+- fib to be hit again, depending on SPX. If we hold on to SPX, we will revisit low and have accumulation for a few months. DYOR
If we lose 55 EMA, on the weekly time frame, we are in another bear market. In previous bear markets, we loved to bounce from 200 EMA to 200 MA, find support, and start new cycles in a few months. But, before we lose 55 EMA, we are still ok. So happy new year and let's see what Fibernaci Year (23.6%, 38.2%, 61.8% and 78.6%. = 236 + 382 + 618 + 786 = 2022) 2022,...
Those are Bearish Price projections if this is now top for this year, and if we maybe go to new low, as we do always in receptions, 2-cond lower low. BUt only my thoughts, do your own analysis. My day trading will not change at all. Going up or down I do not care :) As you can see on this link I can short All-Time Hight with great precision.
Just my thought will change nothing on my day trading, but just talking to myself, what is possible. Every big correction, and problems, we had the second drop, and lower low.
Can ETH get back on its feet, let's wait and see.
We have levels of importance as you can see. The middle one is 0.618 from April 2019, a very important level. Other is price projections, with levels of importance, I expect bounce (at least small), from every level on the chart, as you can see it worked so far.
Fridays always pumps, so let see, can we hold this fib projection and level.
one of the best charts that respect fib levels, we gain one level now, can we hold? If we can path is clear... Let's wait and see :)
Levels, and price projections, lets see can we hold it, for new highs, or we make a new low. :)
Even last short term chart is valid, this is now pointing also down directions if we break level to hold. So, let see goo opportunities, and not choose side, trade what you get. Happy trading people.
I just wanted to check how will xauusd look like in the future, and will 618 continue to be respected more than other stuff. All fibs were taken from high to low.
We have an untested level. 21, should be soon tested, and if this range -yellow box does not hold we go down. If we have consolidation, and sideways, we have a possible box up for testing and rejection on the first try.
Only important levels to watch... let's see, what happens :) when something new happens we will need to re-evaluate.