LOG SCALE - Can see well defined descending Tri with good base support. Price has broke out and will close daily with confirmation of break. Look for 1.618 and 2.618 Fib Extension levels. Solid entry -- will rally fast.
Founder of Jupiter DEX on Solana, launched a Meme coin called "WEN". Currently a $28mill Mcap. Could see this one run 10x-100x as total supply is already circulating. Big dump after airdrop but appears to be consolidating into wedge. Watch for volatility on this very soon as it breaks.
Technicals - Breakout observed after 18 months accumulation range - Wave 1 complete, Wave 2 retraced to 0.618 fib level followed by Bullish RSI Divergence - 1.618 Fib Projection for Wave 3 Target @ 0.167 Tokenomics/Fundamentals coinmarketcap.com FDV: 46m Mcap: 19m Contract Ownership Renounced: Yes Mintable: No Mutable Info: No Circ: 40% Unlike many other...
Pretty simply play this -- breakout of prior resistance as announcement comes for launchpad voting. Not alot of data to use, so have done a basic 1.618 extension mark for $1.35 target
Two big themes this bull run -- AI and Gaming. In the backdrop we have firedancer upgrade to Solana, so this will give the ecosystem more attention and a boost. About DIO 40% distributed, no mint, renounced ownership, FDV is under $60m. Solana triple-AAA game that is already in closed alpha and listed on the Steam platform, with invitation to Epic games...
Looks like Cup & Handle forming on the broader structure. Since wedge breakout from the bottom we have seen clean elliot wave cycle w/ abc correction down to the 0.5 fib level. This may be forming into a larger super-cycle with what we would now call a "Wave 3 of 3" -- the biggest rally setup. 1.618 fib-based trend projection is around $0.00047, approx 5x. ...
Possible top of Wave 3 here at the 1.618 Fib Projection (log scale). Typical pattern here is to see an alternated depth of wave 4 to wave 2 -- this being 0.38 correction relative to the 0.618 correction here on wave 2. Timeline of this would line up end of wave 4 for boxing day specials, with a new years peak. Complete speculation with some basic ewave and fib analysis.
Log scale - overlapping Fib retrace from ATH/ATL and 2023 wave @ 0.06 to ATL - confluence resistance levels appear at; R1: $0.034 (0.618 + 0.236 retrace levels + alternated support at $0.033 from March 23) R2: $0.062 (1 + 0.38 retrace levels + price resistance at 0.062 from Jan 2023) R3: $0.166 (1.618 + 0.618 retrace levels + alternated support from Jan...
On smaller TF can see a 5-wave count blowing off into bearish divergence on RSI. Typical of corrections/pivots. Look for supports around $40 & $30 levels to scale in. This is probably needed to sweep fomo longs and attract dip shorters to fuel the wider wave 3 structure. Recommendation is take some profit and reload dip levels, risky to short against the trend.
Fundamentals: Firedancer validator node upgrade expected around Q2 of 2024, pushing TPS over 1.2m+ for a single cpu core. Technical: Parallel channel on Log Scale showing strong support line. With similar timeline of 21 bull run, we get a target of 4380, slightly above the 1.618 Fib Extension with a blow off top.
Fundamentals: #RENDER has announced building on #SOLANA as breakpoint. On of the leading AI-projects that will impact Film and Animation industry. Expect to see projects on SOL pump as Firedancer validator moves through test net and comes online. Technical: From ATH to ATL, RNDR has formed a Wave 1 & 2 with 0.38 fib correction, now breaking through the 0.618 fib...
Now we've started to see the early breakout from previous call back in early november. What ive done here is simply overlap fib retrace levels from the previous bull and bear cycle with extension levels. Also bull cycle top with the 1.618 extension level. 2.618 is above 11xxx.
With this wave count, 1.618 fib projected a target around $180,000/BTC for Wave 3. note: 2015 bear market fractal appears to be following at this stage, with volatile reversal expected very soon.
Just timestamping this -- right now everyone in panic, binance just killed ftx and black swan event with markets... nothing but red candles and no support.... so why is it going to pivot here? Because It will.
About as clean and simple as I can make it -- expect volatility very soon, either this breaks or rejects.
$18,700 is the target for bottom, although an 1.618 extension can also form a Shark pattern around $5,100 (but who the hell wants to see that).
They call em 'stablecoins' for a reason son. So i went to publish this and it said quote "Gosh that is a short description".... Here is a better description... Red bar down
Log Scale - junction point of two major trendlines. At current, BTC has crashed 7% -- most people are bearish right this moment. I think this will kick back up to 51k very soon.