On the weekly the price broke under the bull channel and has now just failed the retest of the resistance. Will be interesting to see what direction it will take this week. Upwards towards 150k or lower to 3k. With a pending pan market sell off and an bounce in dxy.. down looks more probable to me.
XRP has chance to break out at 0.266 for a massive bull run or disappoint and start heading down to 0.066 at bottom of channel. I personally think there will be another imminent pan market sell off, giving us an opportunity to buy more much much cheaper.
If btc doesn't very soon break up from here, we're looking at bear market chart with next buy at approx. $1500. Considering that all the markets look like they're going to mega crash worse than 1930's this outlook is very plausible. Everyone is selling their bitcoin to make rent and eat right now.
I fully expect a pan sell off of equities, commodities and crypto on the 13th or soon after. I'm selling 1/4 of my crypto holdings at the top of the channel and plan to buy for last time at bottom of the channel. After this final sell off I think we will be officially off to the races.
ABC retrace to top of ascending wedge to the .618 fib.
Six flags which has already gone bankrupt once was already flirting with bankruptcy before the pandemic hit. Trying to open at 25% capacity with a reservation system and force people to wear masks is a joke.
Target single digits.
If the fall is prolonged then look for further climbing in the wedge to the...
It tried to turn around at the .618 and has maybe been stopped at 200 ema.
It could still reach up to top of channel or .718 but with decreasing probabilities.
Lower target would be median line for now approx. 255.