On the above 3-day chart price action has corrected 90% since the sell signal back in November. A number of reasons now exist to be bullish, including:
1) A ‘incredible buy’ signal.
2) RSI resistance breakout.
3) Price action confirms support on Fibonacci 0.786 as measured from the July 2021 low.
4) Dragonfly DOJI candle prints on 2-day chart (not shown here).
Why $400? Very simple, the previous cycle top was predicted perfectly @ $120 by the Fibonacci 1.618. Repeating the extension takes the market top prediction to $400, see chart below.
Is it possible price action falls further? Fur sure.
Is it probable? No with bells on.
Ww
Fibonacci target
1) A ‘incredible buy’ signal.
2) RSI resistance breakout.
3) Price action confirms support on Fibonacci 0.786 as measured from the July 2021 low.
4) Dragonfly DOJI candle prints on 2-day chart (not shown here).
Why $400? Very simple, the previous cycle top was predicted perfectly @ $120 by the Fibonacci 1.618. Repeating the extension takes the market top prediction to $400, see chart below.
Is it possible price action falls further? Fur sure.
Is it probable? No with bells on.
Ww
Fibonacci target
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.