Long term US10Y Monthly Fib Channels. Much lines. Extra words...
Fib channels anchored where we broke out from the orange trendline and between the first major top and bottom. With projections.
Projecting a line parallel to the fib channel from a previous resistance. Seems to have reacted to the trend line projection. Could be temporary. Could retest the bull trend line ~40k.
Bounced between the .5 and .618 retracement. Which is also the .618 of the previous high to low. And bullish divergence on macd and maybe rsi.
You can see how price follows these fibs like a magnet. If we extrapolate from previous reactions at these fib levels we get a next possible top around 55-57k.
MJ Tri Fib Channel Levels. Some past trend lines parallel to the fib channel.
Possible cypher target for IDEX . Keep an eye on the smaller time frames.
Expecting some resistance between 1.45 -1.60. Then between 1.60-1.75.
If we can break this resistance at 1.31, I expect to rise to 1.45 to 1.60 before some consolidation and possibly higher.
Bearish looking megaphone top. 2.618 hit on fib channel. Up for interpretation.
We may be completing a bearish butterfly harmonic. As we are hitting 20W and 200D SMA resistance. Also bear divergence on macd and rsi. If we can't hold .382 and .5 it would seem to confirm the pattern. Then I have one possible bullish bat which could also make a h&s . I could see any number of other possible outcomes. But I will adjust as things develop. The...
We're hitting resistance just below the .786 forming bearish divergence on the MACD. Here are hypothetical outcomes of a bearish bat harmonic.
We bounced nicely off the 1.618. Now found support at .886 and breaking .786. If we get above .618 I believe the bat plays out.
$415 is acting as resistance and lining up with top of Aug 2nd wick. Looking at the trend lines I believe we will see a drop to 372 support. If 372 breaks then a drop to 350. At this point we will see the uptrend resume. I'm just starting to learn so take this with a grain of salt.