I've highlighted these wedges previously via our Twitter.
Currently, the ES is Extending the E leg,
Which typically extends 1.2-1.4-1.618% of C-0
I'd look for a violent reversal back to the upside at 4236 or 4178.
Further selling would invalidate the formation
$TLRY appears to have bottomed,
This dip looks like an excellent buy opportunity at $6.35
Target 1 $10.6
Target 2 $16
Target 3 $27
I've called cannabis bottom in previous cycles. Hopefully I'm right again,
Moonbound, godspeed :)
The previous 2 broadening wedges extended 1.618%
From C-O fib extension
Hence I'm calling this the "CO wedge phenomenon."
Extension targets for the current wedge are:
Personally, I'm leaning towards counter-trading this sell-off, at 1996 and 1859.
That's where my bids will be placed.
Today I take up puts on gold,
Expiry July 2023, Strike $145
If this is anything like the last time gold topped, which is looking strikingly similar,
The puts should print over time.
I'll stop out with a close above 183
- This level needs to hold, and if it doesn't the chart will likely rug!
I'm taking up a long position at 51.75
59 for Target 1
69 for Target 2
I'm starting to hate the "B" word right about now.
Not going to declare bottoms.
strikingly similar parallel to GOLD's long term chart,
$BTC appears to be in the early stages of a corrective phase,
With potential lows, as low as
$27,000 and $24600
I don't expect the chart to go straight to those targets but in a series of corrections and over time.
Time will tell.
Hello fellow bulls and bears,
And welcome to our Bitcoin, $BTCUSD analysis,
The chart is mimicking several previous "top" formations with key fibonacci rejections.
In our opinion if BTC fails to rally above $37,000 and close above, then the coming weeks will be full of pain and misery for bulls.
-One of the fundamental problems with being bullish, is that...
$CGC is the gold standard, top performer of all time,
Target 1, $30
Target 2, $40
Target 3, $70
$TLRY was the hardest pumpin IPO made over 1000%
Target 1, $8.9
Target 2, $13.79
Target 3, $28
$MJ is more of an Index/ETF
Target 1, $15
Target 2, $22
$TWTR hasn't broken out,
Instead, it range traded then dumped from $50 to $13 and back to $50
An accumulation pattern, a very bullish one.
The same structure can be observed on $FB
Just before it broke out from $70 to $274
That's right folks,
a %1000 bullish move since $FB cracked that accumulation pattern.
Targets for $TWTR
Inverse HnS, followed by a falling wedge.
That was Bitcoin's market structure just when it revered from the bear market.
Except LINK has taken 16 days to do what took bitcoin 79 days to complete.
Will the fractal repeat itself?
In this short video analysis, we highlight the correlation between traditional asset Risk-On cycles and their impact on Bitcoin.
Every historical $BTCUSD bull run's start has coincided with a SPY significant Fibonacci level breach and retest.
This past month the SPY has breached the long term 2.618 fib level and is seemingly headed towards the 3.618, with no...
The chart construct is impeccably similar to February of 2017, before the bull run.
Large falling wedge followed by buy signals on the phantom script, post liquidity grab.
This chart is likely to go on a run.
ETH Being ETH, it could lift the market with it.
Keep an eye on $ETH folks!