I posted and idea recently questioning the significance of this white trend line i drew on my BTC chart a couple weeks ago while fishing through the macro trend for some clues. It seems to have given us a very strong bounce, and it perfectly lined up with the 3.618 fib circle band shown here. We did get rejected by the daily 50ema today, but that is to be expected as literally every single RSI (besides the daily TF) was extremely oversold. The fact that we havent yet broken back into the parallel channel is a great sign, as now the RSI has a chance to cool off and take a deep breath before another push up. As you can see back in January we broke the 2.618, rejected the 1.618 the first time, found support on the 2.618, then reached for all time highs. When we fell from the sky we landed back on the 2.618, and after the fakeout of June 14th/15th, the 2.618 became resistance. Now that we have bounced off the 3.618 and this macro support trend line, if we again manage to claim support of the 2.618, that, to me, would be the ultimate bullish scenario. We broke out of the channel already, next we claim the 50ema, and then we claim to 2.618 in my view.
Also, we can see the Williams Alligator attempting (again, last time was June 14th fakeout) to create a bullish cross. If the WA breaks the blue line its off to the races.
Godspeed everyone
Also, we can see the Williams Alligator attempting (again, last time was June 14th fakeout) to create a bullish cross. If the WA breaks the blue line its off to the races.
Godspeed everyone
Comment:
