Price is currently inside the fib. box.
RSI is oversold
The odds are in favor of a bounce-up!
If BTC strength still prevails and goes up, SOL can bounce and rally to the 1.27 level!
#NFA
A Price action to retest the slopping trend line and the red box will be an excellent risk-to-reward play for a bullish setup as it's also shown as oversold right now!
If a candle closes below the trendline, a break and trend reversal would play!
Looking back at 2018 (left chart), when the 50MA (green) crosses the 200MA(red), we have a 40 percent rally to the fib. 0.618 level (green line in my fib box) before we settle for another 40 percent dip BELOW the previous low.
Not saying this will happen again, but, If this move is to happen again, we can see a rejection after a rally to the same 0.618 fib...
well, looking at my line, we can see that there's a falling wedge pattern for BTC USD pair;
if we are in its range, worst case if we fall lower would probably in 28K range as it is also the 0.618 fib level from MARCH 2020 low to the BTC high back in NOV 2021.
Let us see where the BTC will act and move in the coming days..
FYI, if it breaks upwards, target would...
Well.. looking a the other 2 purple circle, there's a reversal in play every time BTC have a massive green candle near the purple trend line that holds previous low.
If BTC price can close with a green candle on the 5D chart, it would highly probable for BTC to move to the upside rather than the downside.
If not, the price level on 50-52k ish would be the...
Looking at the macro fibonacci level, we still have one level that I think BTC might visit if we see another dump in the price!!!
The last support price that I am looking at is $51900 ish... with +- 2%.
But looking at BTC price has broke the purple downtrend line..
Even though it may not mean that BTC will just pump from here out, if BTC can hold the purple...
Looking at the chart, I think we will have a small correction if we are looking at the moon phase !
The target for the small correction would be around in my Fib. box's level !
If we have this small correction, it would be a great place to put on a long lev. trade #NFA
After testing it, BTC will be on the move !!!
But to be save, a trade would be much more...
Right now GOLD is making a descending triangle pattern...
This pattern usually lead to a break to the downside...
Letss see how GOLD will act in the coming weeks and months...
I am suspecting it will fall as I believe that we are still in the bullish cycle in coming years.. But if not, then we can confirm that $1700 ish is the bottom.
When we are in a bullish...
As mentioned in my previous post on BTCUSD, my final support level is on 41K ish... and it has proven to be so..
Even though it wick below a couples of time and close 1 time (4h) below it, it still manage to rise and close above it..
Looking at today's rally, if BTC cant consolidate above 43K, a test to the 0.5 and 0.618 fib level may be in play (The...
As you can see, BTC still making a higher low since few days back, and it just now testing the purple trend line BTC just broke and went upside few days before...
Right now BTC could found it support in both the purple trend line and the red fibonacci level line... this would be a very strong support if you asked my opinion...
if somehow the downward pressure is...
Welp, we tested the previous high (red circle), which proven to be strong as we are having a slight drawback...
If the green support level can't hold, my fib box would be my next support level and from there we will strive to break the recent ATH...
Why I think we will break to the upside?
1. MA just crossed
2. Many on chain data suggest that (DYOR)
3. The cycle...
As a crypto asset backed by real gold, is it time to put some money in PAXG in case of the upcoming big recession ?
Well to answer that, YES and NO...
1. We don't know when will the recession comes
2. We don't know whether it will come or not (LOL)
But still, it's better to be safe rather to be sorry!!!!
My entry price point would probably be in the fibonacci...
Well... as I charted before (months ago), we will see a break down of USD, but still, if U zoom it out, it still in the up-trend!!!
My worst-case level for USD-IDR pair would be at 14,000 which align with my trending up blue line!!!
It may not even reach that point, as USD itself has many supports line before breaks and touch the 14,000 area!!!
#not financial...
Looking at the current pattern of ETH, we can see that ETH is currently making an Ascending Broadening Wedge in its price action!!!
According to research, this Ascending Broadening Wedge has a 79% chance of breaking towards the upside and 21% for breaking towards the downside...
On that note, we can be quite bullish overall as breaking toward the upside more or...
DOT is currently meeting resistance at the bearish Order Book level.
if DOT can breakthrough, it can easily go to $25, with an additional volume and momentum on DOT,
DOT can also reclaim and test the Major 0.5 Fibonacci level at $30.
If dot fails to break the bearish order book, I would suspect DOT to retrace to $20 which is in line with DOT current trend line...
Eth has been too strong these past few days...
Will it continue to go higher or will it retrace first to give a leg up for its price?
Something that goes up will eventually go down or retrace back, thus, if it retraces, I will look around 0.5 fib level from the very low ($1722) and the newest low ($2460).
The fib 0.5 level from the very low is at a price of $2460...
The hash ribbons indicator which is very rare to happen has already lit up into buying signal and after days of green candles,
I suspect and hope (actually) for a better leg up in a retracement of BTC's current price.
My good case retracement scenario is BTC testing the 41K level as it is the price where the blue downward slope and as 41K price level is around 0.5...
Looking at the prospect of current economic situation for both the US and Indonesia, I believe there is still room for an uptrend in coming years as shown in the chart before a break to the downside in the coming future (probably will take years). #not Financial advise #Trade at your own risk
