BrettFogle

BrettFogle

The DXY is in a downtrending channel and despite today's small bounce based on MFG data, it's still looking like it will lose this key level in the coming days. This brief cool-off period before the 23rd when the ETH ETF is schedule to start trading would make sense and with BTC retracing from the strong sell order blocks at $66k which I've been talking about for...

BrettFogle

ETH appears to be holding the line above $2950 but but as it's now the 5th re-test, I'd be looking for any breakdown here on ETH to get out and wait for a lower re-entry. Stop loss at $2800 makes sense, although we could easily wick and touch then rebound. Still, breakouts to new highs or breakdowns usually happen on the 3rd or 5th attempt I've noticed over the...

07:04

BrettFogle

As I've been saying, we really just need a breather after the huge runup in Bitcoin and the altcoins pre-halving and with 7 consequetive up months and Green candles. So it's no surprise April is selling off, and the halving was a 'sell the news' event. It's good news, because all markets need to rest and re-gain their strength to push higher. Watch the video...

BrettFogle

Here's a slightly different chart showing how Bitcoin will likelyt proceed quickly to $100k once we break the $70K triple-top resistance, which I see happening quickly. With Fresh NASDAQ:IBIT money continuing to flow into Bitcoin and the markets, this market has plenty of rocket fuel on the sidelines to send this rocket into the stratosphere. Not only does the...

09:53

BrettFogle

On the one hand, this was a needed mini selloff, likely liquidating more leverage out of the system and resetting funding rates. BTC trying to hold $68k and ETF money still goes brrr... Will money flow slow, or we get another big push up Monday? Lots of buy order blocks around $60k up to GETTEX:64K and the crypto day traders are shorting now with that target...

BrettFogle

With the recent Bitcoin rally avove new highs and currently over $72k, the DXY is also showing further weakness on this chart. This signals the BTC rally will continue and I believe straight to $80 if not $100k before the halving. See my other sudies on 'The Path to $100k - $155k Bitcoin' for reasons why this is in play.

BrettFogle

Here's an updated 'Path to $100k - $150k Bitcoin' study. We've already seen the power of the ETF money flowing into these markets, which seems unstoppable with Blackrock and Fidelity now with over $16B in AUM. We're also now seeing heavy corporate accumulation by the likes of MSTR which just upsized it's convertible debt offering to $700M from $600M to buy more...

BrettFogle

XRP may finally be ready to run. As likely profit taking in BTC ensues, money looks to be flowing into previously dormant projects like ADA and now XRP. The 21 day EMA crossing above the 50 day EMA, which usually gives an approximate average pump of 45%. Also our indicators are turning Green, showing a new uptrend may be starting, and XRP is breaking out of...

13:48

BrettFogle

Here's my Revised Bitcoin Path to $155k - $210k and $100k By the Halving study. Note: If you're using a Fib based on a Log scale these levels will change, but the $155k level is still the likely target based on a 1.618 vs a 3.618 projection. In this video I've outlined the 10 factors including the ETF money flows already coming in. Each of these factors could...

BrettFogle

Bitcoin and IBIT Blackrock ETF prices are pushing higher showing buyers are back in the game. But I also think we're hitting the upper range of this trend channel and likely due for a pullback. The Total Market Cap has a strong resistance area around $1.75T My thesis is that Bitcion pulls back after this bull trap rally and pushes back towards $38k before...

04:20

BrettFogle

In this video I cover Two opposing scenarios where on the ond hand, we're seeing a potential inverse Head and Shoulders on Bitcoin. However, this looks weak to me and with the push higher on the DXY toward the 104 level, I suspect Bitcoin does drop lower and at least test the $38k support range near-term. And then I think there's a strong argument that we'll...

03:28

BrettFogle

In the video, I share an article I read today about the Bollinger Bandwidth indicator which is potentially showing a market inflection point and imminent start to the next parabolic run. I also share how I used standard Bollinger Bands differently, with slight modifications to make it very useful as a sell signal at market tops and major inflection points. Let...

BrettFogle

Here I've highlighted all the weekly CME gaps for Bitcion, showing all but One have now filled. Technically, there's still one open just under $10,000 at / around $9750. Unlikely this will ever fill at this point, but as of today Bitcoin filled the recent gap just under $40,000, which clears Bitcoin for runing higher. However I still believe we'll re-test...

BrettFogle Updated 

As I've been saying for months, once Bitcoin broke and closed above $32k price would increase quickly. The Head & Shoulders pattern that was forming was also invalidated, so the new uptrending channel is intact and headed to the Fibonacci Golden Pocket range of FWB:48K -$50k potentially in 2023. We'll likely see profit taking pullback here. But then we're...

BrettFogle

After the ETF hype and $48.5k Golden Pocket selling pressure... The DXY has been consolidating sideways, technically breaking it's downward trending channel. As of today, Bitcoin has lost the $45k support level and heading lower towards $38k - $40k. Fueling the selloff were hotter than expected CPI and inflation data, and the realization that the new approved...

BrettFogle

Here's my revised "Potential Path To $150k+" chart, adding in 3 new factors that further point to the higher Fibonacci targets on this chart and potentially hitting $220k Bitcoin. As the 3.618 accurately predicted the exact market cycle top in 2021 (drawn from the 2018 Hi / Low cycle)... The same scenario could play out for the 2024 bull cycle, with each of...

BrettFogle

Bitcoin's chart shows that it's potentially topping out here and due for a pullback. See my other recent post related to a pullback to the $38k zone to re-test prior resistance. While we could push higher here in the final stage of an exhaustion rally to the Fib Golden Pocket, it's more likely that BTC retraces back down to the $38k - $40k zone before resuming...

BrettFogle

Bitcoin rejected at the $45.5k level as we forecast in prior weeks live classes and we can see the sell order block at this level as well. Right now it looks like BTC is forming a macro cup & handle pattern, which would be a good thing here -- for Bitcoin to retest recent support (the handle) and then bounce off of this. I'm targeting the FWB:48K - $50k level...