Applying Sinewave theory and an inverted fractal from the last crash (10k to 5.7k) I'm expecting something similar to what you can see in the chart below. Fractals never play out exactly the same but I'm still pretty confident that the price behavior will be similar. The parabola on the bottom was placed there 2-3 weeks ago (check my last post) and the pump started right after hitting it as predicted.
If this plays out we should:
A. Break Fib .5 support
B. Pierce through yellow parabola and yellow trendline
C. Reach Fib .618 and find support in light blue trendline which used to be a resistance.
D. Hit the white parabola's target (green circle) and then moon (red circle)
This may not happen specifically in that order.
"Like" or Follow" if you want to get notified with the follow ups.
Happy trading!
If this plays out we should:
A. Break Fib .5 support
B. Pierce through yellow parabola and yellow trendline
C. Reach Fib .618 and find support in light blue trendline which used to be a resistance.
D. Hit the white parabola's target (green circle) and then moon (red circle)
This may not happen specifically in that order.
"Like" or Follow" if you want to get notified with the follow ups.
Happy trading!
Comment:
*Quick Update*
Bitcoin is experiencing a healthy retrace which could very likely find support on Fib .382 which was a previous resistance. I think BTC will bounce against the lower parabola that we have been tracking for the past month and has been holding very nicely (check previous ideas). The bull run to +8.8k should resume within the next few days.
Bitcoin is experiencing a healthy retrace which could very likely find support on Fib .382 which was a previous resistance. I think BTC will bounce against the lower parabola that we have been tracking for the past month and has been holding very nicely (check previous ideas). The bull run to +8.8k should resume within the next few days.
The prediction has played out very well although we have not seen the expected pullback given that alt coins were the ones which bled the most (-5% to -15%) while btc retraced far less and sucked in a great percentage of crypto market cap. The upper parabola has been striken again at around 8.4k and will probably hold as resistance since there is a clear bear divergence on 4hr MACD. We can also start to see how the pink support lines are starting to decrease in gradient suggesting a decrease in buying pressure/increase in selling pressure. A pullback to 7.7k-7.9k is likely before reaching the final target of 8.8k
(More updates coming in following days)