I am not some end-of-world theorist, I am just applying Jean-Paul Rodrigue's Stages of a Bubble of the Apple Inc stock. I do believe that the current price correction is not over, as the MMAR shows that since 2008/09 each correction has been longer than the previous one. And currently Apple isn't even halfway through. But if we apply the Stages of a Bubble...
Despite the fact that Bitcoin has (most likely) reached a bottom, the bear market hasn't officially ended. Although traders call the current phase the "Accumulation/ Distribution" stage, it is still an extension, even though the final one, of the bear market. So where does the confirmation of the new bull market comes? I tried to pinpoint this using the Mayer...
** Only for short term perspective. Can be invalidated by news driven volatility. ** Pattern: Channel pressure points on 1D. Signal: Bullish after a Lower High bounce. Target: 1.13080 and 1.12340. Traders who want to follow a safer approach my medium term view remains bearish and the short target below (1.1130) is still valid:
Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D. Signal: Bearish after the Resistance (Double Top) rejection. Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).
Pattern: Bearish Head and Shoulders on 4H. Signal: Bearish after the neckline's Resistance rejected the price. Target: 11260 (symmetrical legs). This is my long term outlook:
Pattern: Higher Low Channel on 1D. Signal: Bullish. Target 0.08680 (the 1W Resistance Zone).
Pattern: Fibonacci retracement. Signal: Bullish as it rebounded on the 1M Suppport Zone. Target: TP1 3.450 (0.382 Fibonacci) TP2 3.720 (0.500 Fibonacci).
Pattern: Fibonacci retracement. Signal: Bullish either now (1D support) or on the 0.382 Fibonacci. Target: 2.96000.
Pattern: Ascending Triangle on 1D. Signal: Bullish after the price made a Higher Low. Target: 76.500 (1D Resistance Zone).
Pattern: Ascending Triangle on 1D. Signal: Bullish as the price made a Higher Low. Target: 874.00 (the 1D Resistance Zone).
Pattern: Bullish Channel on 1D. Signal & Target: Bearish towards the potential Higher Low (7180). If the Higher Low line breaks at any point the target would be 6915, just over the 0.382 Fibonacci.
Pattern: Channel Up on 1D. Signal: Bearish as 4H is on Lower Highs creating a Triangle. Target: 1.3060 (Higher Low). * If 1.2955 breaks it is a bearish break out from the 1D Channel Up. TP 1.2775.
Pattern: Pull back on 1D. Signal: Bearish (1) short term to -2.79% from top. Bearish (2) long term if -3.41% from top breaks. Target: TP(1) 109.090, TP (2) 104.800. Successful previous break out from the Triangle:
Pattern: Parabolic bullish curve on 1D. Signal: Bullish on every pull back. Target: 3.9000 (+345% from bottom similar to the previous bullish parabola).
Pattern: 0.382 - 0.618 Fibonacci retrace on 1D. Signal: Bullish once the price tests the Support Zone. Target: 1.1000 (Gap fill on 1D).
Pattern: 1D Channel Up. Signal: Bullish after a Higher Low was made. Target: 1.8200.
Pattern: Channel Down on 1W. Signal: Bearish after a Lower High was made. Target: 1.1130. My previous trades on this pattern:
Pattern: 4H Channel Up. Signal: Bullish when this retrace is completed at 3900. Target 4100 minimum. *Note: Repetitive patterns on 4H enhance the bullish potential.