Looking at the macro view on a logarithmic chart, if we are indeed in a similar environment as the 2013-2017 run up, we should see a large blow off here leading into EoY.
Cardano sitting at major macro support on the Bitcoin pairing and very oversold on the RSI. Bounce imminent
5th Wave complete :D. From here could expect to see a pullback or consolidation
Solana looks to be pushing out of a consolidation range
Update to my macro outlook for Bitcoin. As I previously mentioned, we retested the swing lows and are now rallying back to the swing highs (48-51k) I never really know what to type for these so if you have any question or if anything is unclear please feel free to ask!
$BTC Update. Rejected at the 50k retest, finding support at the 38-42k range. 45k is the pivot (rejected on first bounce attempt (see right photo of zoom in on daily) Today's candle will hopefully provide some more direction, but I suspect a retest of swing lows.
See chart for trade idea w/ the projected 5th wave price target
I did a price prediction back in May using the 2017 cycle as a benchmark. I called the top nearly to the day (albeit I wanted $1400, but we didn't quite get there). Here is a quick sample of the 2017-2018 price pattern overlaid on our current 2021 price pattern - seem familiar?
Welcome to September. Statistically speaking, the "worst" trading month of the year. Looking back at seasonality, the S&P 500 experience anywhere from a 5-20% pullback on average. If Sept 2 was the swing highs, here are some key levels of interest where we may pull back to.
Still doing the sideways shuffle. Price projection still valid.
A touch extended here with some divergence on the RSI in overbought territory. Expect some basing while the EMAs catch up.
Key zones of interest highlighted in blue rectangles. Bullish if we can keep forward momentum intact and base above these 42k levels.