BTCUSD
This bull cycle started at the bottom of the parallel channel & won't stop until the top of the trend or the midline, BTC has been respecting the logarithmic parallel channel & trend-based fib extensions since the 2012-2014 cycle.
BTC has consistently struggled with the mid-line and each fib level (More apparent on daily & 4hr)
We have a major double hurdle coming up at 76k with the fib & midline in close proximity. We could see a major correction (still on trend but intense) at the midline before continuing up to the top of the channel --> leading to our next bear market while we retrace to the bottom or midline of the channel.
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Just realized the emoji's didn't work ahahah
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Added some fib channels & realized that BTC has been respecting them quite closely.. The rally stopping around 42k coincided with the fib channel in that area as well.. We've managed to overcome a fib channel fib & turned it into support, Next leg up to 76k is possible by the looks of it
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Closer look at the new fib channel support we've claimed
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^Here is another idea I made for BTC with a look at the renko chart & areas of supply/demand & possible S/R zones
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New Idea:
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New Idea:
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Here's another look at BTC:
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New Idea!
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Scary near-perfect rejection from that 0.382
^closer view
^Same fib but low time-frame
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20.176k is still in play too though :thinking_face:
We either slowly pamp to 76.178k or we test the fib below to turn it to support :agree:
We haven't tested the fib below since we broke out :thinking_face:
Both fibs being tested is on the cards too (Hitting that fib above and correcting to the fib below before moving up)