So Elon Musk has bought $1.5billion of BTC for his company Tesla, which most likely has made a bigger profit in two months than the firm did in the whole of last year
He likely also bought a some for himself, along with DOGE when the DOGEBTC chart hit the bottom zone and then shilled them a fuck ton on twitter and made bank
Apple are supposedly next in line to buy and it seems like that line might have been crossed today as this thing printed a $7500 candle body
Usually this would have retraced to just below 40K, cleared the previous high and then rose to mid 42's and started to build a base above the previous ATH before it pusheed on
Not today, it was straight Space X rocket - indicates to me other firms have likely got involved, some of the big tech giants I would expect, Apple, etc.
On the chart - we have two things playing out:
1. the macro move - outlined by the macro fib (dark purple)
2. the breakout play of the correction - yellow lines/faint pink fib
Here's my thoughts:
The purple line acting as current resistance is the 2.618 fib retracement of the 2017 ATH to the lowest low after which is in 2018 (I call it the macro fib)
Where it goes next depends whether it can claim this level, or hold the 1.272 of the breakout play
If not I would expect some deviation and us to clear the lower levels of 42K, 41K etc.
Wouldn't be surprised if we formed a pennant or a range here from 47K with lows of 41K, and a break to the upside towards 55K especially as
We have seen recently majority of these breakouts have been reaching the 2.0 fib level, which is at 55K
Magically the 2.618 of the breakout and 3.618 of the macro fib (2017 high to 2018 low) almost allign perfectly - forms my ultimate target
He likely also bought a some for himself, along with DOGE when the DOGEBTC chart hit the bottom zone and then shilled them a fuck ton on twitter and made bank
Apple are supposedly next in line to buy and it seems like that line might have been crossed today as this thing printed a $7500 candle body
Usually this would have retraced to just below 40K, cleared the previous high and then rose to mid 42's and started to build a base above the previous ATH before it pusheed on
Not today, it was straight Space X rocket - indicates to me other firms have likely got involved, some of the big tech giants I would expect, Apple, etc.
On the chart - we have two things playing out:
1. the macro move - outlined by the macro fib (dark purple)
2. the breakout play of the correction - yellow lines/faint pink fib
Here's my thoughts:
The purple line acting as current resistance is the 2.618 fib retracement of the 2017 ATH to the lowest low after which is in 2018 (I call it the macro fib)
Where it goes next depends whether it can claim this level, or hold the 1.272 of the breakout play
If not I would expect some deviation and us to clear the lower levels of 42K, 41K etc.
Wouldn't be surprised if we formed a pennant or a range here from 47K with lows of 41K, and a break to the upside towards 55K especially as
We have seen recently majority of these breakouts have been reaching the 2.0 fib level, which is at 55K
Magically the 2.618 of the breakout and 3.618 of the macro fib (2017 high to 2018 low) almost allign perfectly - forms my ultimate target