Looking at the charts, I cannot keep my eyes off of March 20 MEGA Selloff.
I scanned back to 2016/2017 and saw price this low.
With USD becoming stronger combined with Euro's long downtrend,
it makes sense to go deeper before it can have a full trend.
The massive liquidity created by the March 20 selloff is too juicy for Institutions to let go.
And on top of...
As of this writing, BTC have not crossed $8K yet.
So why am I talking about $10K range?
In my previous analysis, I was saying BTC was trying
to target the 8K price but looking at it now --
how it's taking its sweet time building up strength.
It's very clear to me, it's not interested
in a small fish in a pond.
I think it's set its sight on the big fish (...
I changed my position on USO. I think it's going below last low and headed for a double-dip.
Big institutional players always want to take price to the next best liquidity and to me, the purple area I highlighted is the target.
There's going to be panic down there so the selling will be massive which of course best time to buy long
What do you think?
Just a quick update:
BTC Stalled below heavy resistance. Not enough support I guess.
So now it's building up that missing support pieces.
Get set for a nice break to $8K
Analysis:
1/ Price retraced above 50% - It's unlikely to create new low
2/ Consolidating to build strength to take our $13 resistance
3/ Overbought in the last 20+days - likely for price to go down to do a fakeout
4/ Boom!!! The party happens after fakeout - expect at $10 range
Confirmations for a big run:
1/ Already oversold for the price to go down for a...
My analysis. Feel free to chime in.
Price broke above the 3-month moving average
Been on a steady bullish rally and finally phasing off the excitement
Price is now cornered by both resistance and support
If price breaks above the green line, I feel it's head for the next resistance at $8,000
If it fails, then it's back to reassessment.
Where does...
Brent Crude was on its way to break
$100/barrel. COVID Crisis came in
and swept value it took
20 years to build.
It doesn't take an economist with
PhD to realize low demand
caused this current oil crash.
So this low low low prices
is temporary...that
I can guarantee.
Full disclosure. My first post. I hope I do a good service with this analysis.
My Analysis:
In short, CCL retraced a hair above 50% of its previous high. History says it's not going to create a new low. So I'm bullish with the consolidation I highlighted, its building strength for a big bull run up to $18.
I set FIB to whole numbers -- $19 (high) /$8 (low)...
