TechniBlock

TechniBlock

Bitcoin (BTCUSD Coinbase) just pulled back to the .618 on the last drop from the last low. This would be a great place to rebound and put in a local bottom if Bitcoin is going to continue this uptrend. Time will tell. Notice the Stoch RSI, we must get this RSI to bounce on this support.

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These are the three levels I'm concerned we could hit. Its healthy we started corrected back to top Keltner band just curious how low we can go. Notice the bottom Keltner band is around that 52k base we built on the way up. If this is a steep correction I see us tagging this bottom line Time will tell.

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Indicators are pointing down and we've just corrected past the .38 fib. We also have a gap to deal with if we drop lower then the .68 fib. Gap will be hit if we drop to the .78 fib. The buy wall at 16.72 was just broken so we're on our way to the .5 fib. If we are in a strong uptrend it should bounce at the .5 fib or above. I would think about adding to my...

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This shows bitcoin's breakout compared to gold. Very interesting chart seems to indicate a huge move up in the coming weeks or months.

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Bitcoin appears to be breaking out of a cup and handle pattern. We could hit 81500 as this unfolds. We are seeing money pour into bitcoin from everywhere.

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SRUUF has pulled into the gas station for snacks before lift off. It's formation of an ascending triangle is bullish. It's just hit the lower side of the buy wall formation. it clearly has a sell wall around 25.07 and an ascending buy wall causing price to coil up. Breakout coming soon.

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Tesla (TSLA) is coming into long term support and this drop finally hit the .618 fib eactly. Looks ripe enough to buy for a short term. It could run back up the 238.00 leaving room for a solid profit.

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Bitcoin appears to have put in a top on the monthly chart. Monthly Stochastic RSI is also about to turn down. We could have a serious pullback playing out.

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I have outlined some important levels in this asset. From the looks of it it may bottom around the .5 fib and tail down to 9.45. The night is young so we will see how this plays out. Some of these ETP's front run BTCUSD price and tell a different story.

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I marked the golden pocket retrace .618 to the .65 on this chart and it comes in at 28227 to 26912. I will caution that if we see a bounce at the .5 fib it could indicate we have further upside following that bounce. The .5 is a common fib retrace that happens in a bull market. All this shows we should be pulling back when the bitcoin mining halving is happening...

TechniBlock Updated 

If we retrace to fibs from bottom at 15540 then the .618 golden pocked retrace comes in at 26941 and if this is a larger uptrend the .5 fib retrace comes in at 30704. Now if we are doing a local retrace based on local bottom at 25059 the .618 fib is 33028 and the .5 comes in at 35574 assuming we are in an uptrend. There is always the chance that we break out and...

TechniBlock Updated 

This is one massive falling wedge. Not sure how high it can go but the .618 comes in at 48.1k.

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This asset demands a closer look. TSMC has had a positive MacD cross and looks to be headed back up. It's to early to tell but buying 75% off of highs could be a solid buy. Until Intel and Samsung get going in their new fabs you can bet TSMC will be in high demand. China is the wild card in this trade given the hostility going on over Taiwan.

TechniBlock Updated 

Ethereum looks prime for a relief rally. After looking at the Grayscale Ethereum trust (ETHE) it's clear we are due. With patterns we can't tell when but we can estimate how high the rally could go. Check out the chart. I imagine we could hit the golden pocket with no issues (area between the .618 and .65 fibs). The falling wedge could break lower forming a longer...

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AMD is currently breaking out. This falling wedge has been in the making since October of 2021. We are on the daily and we are still below the 200SMA so it's not a buy quite yet. We have been correcting for a while so we're due for rally.

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LMT is currently finding support on the pre-covid crash top. Looks strong and pays a dividend. Should do well in today's world.

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Charts look as if we could see a significant bear market rally. This is a basic falling wedge pattern and the measured breakout seems to top out at the .618 to .65 golden pocket (fib retrace). It hasn't started breaking yet, this is just what could be. Interesting none the less. It could always break lower and paint a longer wedge.

TechniBlock Updated 

Looking at the monthly you will notice that the 2013 and 2017 bull runs end and capitulated when the 9 SMA crosses the 19 SMA. That said I believe the 2021 bull run has been over for a year and the 9 SMA has just contacted the 19 SMA seen in the chart. This is a monthly so it's slow moving but capitulation is immanent as the 9 SMA is touching the 19 SMA as we...