Hi there. I want to share with you this idea of BTC fractal of 2014. Well, let's begin.
First of all, I want to be clear with you: I DON'T want to be in a bear market for longer. But, if it's the case, I will be ready for it, and I'll make money while it happens. So that's why I want to take into account this very possible scenario, so that nothing catches me by surprise.
As you see, the fractal is PERFECT. So, what makes you think that will not continue to be fulfilled?
1) Price action: BTC has gone through the log scale trendline. Well, many people think that because of this we are no longer in a beartrend. But, see what happened in 2014? All those bulls got rekt
If this short bull streak happens, alts will fly so hard. This weeks have been just a preview of what can happen with the alts if BTC rises to the $11-13k zone
2) Fibonacci levels: I have tried to mark it in the best possible way, so that it is seen that the final target is between 78.6 and 85% fib ($3000-4500) IF THE FRACTAL IS FULFILLED. The intermediate bull run would end at 38.2% fib ($11500-12500 approx)
3) MACD: Weekly MACD is going down strongly, and since 2015 it has not gone below 0
4) RSI: blue box has acted as support but has been broken, so now it is a resistance. The orange line is a resistance like the 2014 one. The drop would be expected once it reaches the red circle
5) Stochastic RSI: this indicator needs to be reset after spending a lot of time in the area of <20. So it would be difficult to make a big drop without being in the area of >80. The drop would be expected when it reaches that area red circle
Well that's it. I will update the idea as time goes by. If I see any movement that invalidates the fractal, I'll publish it here
If you liked or liked this, I would appreciate a like and share
Legal disclaimer: *THIS IS NOT A BUY / SELL SIGNAL. Try to do your own research before trading.*
First of all, I want to be clear with you: I DON'T want to be in a bear market for longer. But, if it's the case, I will be ready for it, and I'll make money while it happens. So that's why I want to take into account this very possible scenario, so that nothing catches me by surprise.
As you see, the fractal is PERFECT. So, what makes you think that will not continue to be fulfilled?
1) Price action: BTC has gone through the log scale trendline. Well, many people think that because of this we are no longer in a beartrend. But, see what happened in 2014? All those bulls got rekt
If this short bull streak happens, alts will fly so hard. This weeks have been just a preview of what can happen with the alts if BTC rises to the $11-13k zone
2) Fibonacci levels: I have tried to mark it in the best possible way, so that it is seen that the final target is between 78.6 and 85% fib ($3000-4500) IF THE FRACTAL IS FULFILLED. The intermediate bull run would end at 38.2% fib ($11500-12500 approx)
3) MACD: Weekly MACD is going down strongly, and since 2015 it has not gone below 0
4) RSI: blue box has acted as support but has been broken, so now it is a resistance. The orange line is a resistance like the 2014 one. The drop would be expected once it reaches the red circle
5) Stochastic RSI: this indicator needs to be reset after spending a lot of time in the area of <20. So it would be difficult to make a big drop without being in the area of >80. The drop would be expected when it reaches that area red circle
Well that's it. I will update the idea as time goes by. If I see any movement that invalidates the fractal, I'll publish it here
If you liked or liked this, I would appreciate a like and share
Legal disclaimer: *THIS IS NOT A BUY / SELL SIGNAL. Try to do your own research before trading.*