Bitcoin has now confirmed the Golden ratio support
Whether it is chart analysis of human emotions (that is what we’re charting, emotions, not price action), the distribution of petals on a flower (which allows for the best possible exposure to sunlight), the growth of a snails shell, there you will find the Fibonacci 0.618. Don’t ask me why, that’s a philosophical rabbit hole that raises more questions than answers, just accept it happens. And thus, it has shown itself once more as support on Bitcoin price action. That is important. Look left.
The calls for a bearish move in price action have never been louder. Just look at the ideas now published on tradingview.com or on social media. 5 minutes of doom scrolling and you too will feel like the end is near.
What do the facts of the chart say?
1) On the above 2-week chart price action is shown with the Golden ratio multiplier. (The green line).
2) When looking left together with point (1) in mind AND stochastic RSI ‘d’ line crossing up 40 (blue circles) indicates an explosive move in price action is about to occur.
3) There is one more thing, support and resistance. On the monthly chart (below) we can see a very important candle has printed. Do you know what it is? Regardless, it is telling support has now confirmed on past resistance.
I need your bite, hit the like.
Ww
Monthly chart
The calls for a bearish move in price action have never been louder. Just look at the ideas now published on tradingview.com or on social media. 5 minutes of doom scrolling and you too will feel like the end is near.
What do the facts of the chart say?
1) On the above 2-week chart price action is shown with the Golden ratio multiplier. (The green line).
2) When looking left together with point (1) in mind AND stochastic RSI ‘d’ line crossing up 40 (blue circles) indicates an explosive move in price action is about to occur.
3) There is one more thing, support and resistance. On the monthly chart (below) we can see a very important candle has printed. Do you know what it is? Regardless, it is telling support has now confirmed on past resistance.
I need your bite, hit the like.
Ww
Monthly chart
Trade active
Comment:
Rocket = price go up.
As can be seen from the wedge price go up until 65-75k area before a 50-60% correction back down to the 30's.
Price action is overbought in the near term, I think we all know that.
2-week.
As can be seen from the wedge price go up until 65-75k area before a 50-60% correction back down to the 30's.
Price action is overbought in the near term, I think we all know that.
2-week.
Trade active:
The rocket ship print never fails ;-)
Of course there is more to it than that, the conditions identified in the first chart.
Of course there is more to it than that, the conditions identified in the first chart.
Trade active:
Remain long until the month of May as the wedge reaches its target area of $77k.
BTC
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Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
What I would say is there is going to be pull backs. Back to the lows as seen before? Highly unlikely.
When price action strikes the 36-37k area, there is going to be a strong pullback. That will be your opportunity. It will not last long. Look at the main chart, look left. Can you even see those pull backs once the GRM was confirmed? They were infrequent as they were shallow.