Daily kijun seems to have held for now and we have a fair few bullish indicators forming on the four hour. 1/ key 0.382 fib level is acting as support for the moment and should the price break through and confirm it may be a pivot. 2/ bullish falling wedge developing, also visible on daily 3/ flat kumo usually = magnet 4/ bullish divergance on RSI (price lower...
Just for fun. Pitchfork combined with fibs suggests $29,000 around March, $50,000 before June and $100,000 in July!
Daily kijun acting as support at the minute. Hasn't been broken since September correction. Two ideas. 1/ Trend is looking increasingly bearish. If we get a break of the daily kijun and a confirmation candle that likely signals a break down to $11,000 if not $9,000. 2/ If the break down is rejected and price holds above kijun it may signal time to move up. Many...
The 2 hour channel I suggested previously has held so far and now we're looking at a potential bullish TK cross (blue arrow). Last bullish TK cross on the 4 hour was 16 November (green arrow) and led to a 165% move trading out on the bearish TK cross (red arrow). Strong resistance at the 14-16k areas as noted previously and crossing in the cloud with chikou below...
Breakout rejected at 16k. Just bounced off the 0.5 fib line (~$14,500). Three ideas. 1/ new channel forming where we see another test of the 0.5 fib before bouncing to 17k. 2/ same as 1 but we break down through fib support to $13,000 maybe lower. 3/ the 0.618 fib and bottom trend line may work as an ascending triangle , in which case we could expect a fairly...
Price tested the $15-16k range as Ichimoku suggested was likely on my previous graph. Rejected the breakout. Just bounced off the tenkan around $14,5000. RSI also hitting bottom trend line and in a symmetrical triangle. Volume decreasing/stable. Likely to range for a few days between 14-16k before decision time.
Simple idea using fibs, resistance line and a parallel channel. Seems we will likely either break down to complete the H&S on larger time scales (to ~8k perhaps) or up through the resistance line to form an ascending triangle, A&E, or some similar pattern. If the latter, circles suggest some points likely to see resistance based on Nov retrace to Dec high fib. RSI...
Watching this to see if it plays out..
Kijun level has been forming and tested over the last two days. Senkou B line now also forming a level. Kijun level $15,500, Senkou $15,000. Likely to be a key area. More consolidation expected short term before decision time. Bull div on RSI and potential double bottom pattern forming but no clear indicator either way that I can see. As noted in previous chart,...
Triangle on price and RSI. Volume dipping. It's nearly time..