Considering the similarities between the current recovery from the November 2022 lows and the 2019 recovery, which would you consider the most likely target for this rally:- $33K, $36k, $43k, or $48k?
I will point out that the:
1) Current rally is bouncing off a Wave 2 pivot at $19.5k, with Waves 3-4-5 to go.
2) Weekly RSI is above 52 (a condition for every sustained rally).
3) Weekly MACD signal line has a lot of room to rise.
4) 12MA and 20MA have crossed bullish and are offering support;
5) 50% retracement of the bear market move, coincides with both a line of resistance and the 2.382 Fibonacci projection of wave 1.
Or do you think it is all about to collapse back to new lows?
I will point out that the:
1) Current rally is bouncing off a Wave 2 pivot at $19.5k, with Waves 3-4-5 to go.
2) Weekly RSI is above 52 (a condition for every sustained rally).
3) Weekly MACD signal line has a lot of room to rise.
4) 12MA and 20MA have crossed bullish and are offering support;
5) 50% retracement of the bear market move, coincides with both a line of resistance and the 2.382 Fibonacci projection of wave 1.
Or do you think it is all about to collapse back to new lows?
If you would like more views and insights, for the cost of a cup of coffee, join me on Patreon: www.patreon.com/cryptoswing
