As we have found support near the 0.5 fib we will inch upwards towards the 0.618 fib that matches with the support from the historical price. 4650 is strong support and price will range between there and 4740 as the bull rally continues and more tether and usdc on the sidelines is converted into bitcoin breaking us up back to 6500 by june.
You may notice every 16 days a big move occurs and 45 days from feb 19th is april 3rd and the SEC will approve or delay the van eck ETF and the price will either not move on a delay causing it to be bullish and pump anyway as an ETF is expected to eventually be approved in 2019 despite the CBOE delisting of bitcoin futures or if approved combined with the 16 day...
With a history of malfunctions and earthquakes investing in this currency is risky and other assets such as bitcoin are a better Store of Value. I expect the yen to bounce on resistance on the way down as the fib levels such as 0.38 act as support turned resistance in the downtrend.
As we have been rejected at 26000, media remains optimistic as we approach another major selloff with ongoing trade talks with china and the ever changing FED rate news it is clear we have topped out with this dead cat bounce and will retrace down following the resistance.
As we head into a weekend holiday rally we expect to see further pumps up to retest the 4.2k resistance no longer then 7 days from now as shown by the date of the last pump we did not receive the next pump to 4200 for 7 days. In this case it may happen sooner as we have strong diagonal support and have bounced off the 3875 support i talked about in my previous chart.
As we have now turned the horizontal resistance into support we will be seeing a breakout of the highs by april 15th. Diagonal support also holding strong leading the higher lows to surpass the local high of 4200 causing a rally to 5k.
Like in my previous post if we do not break out of the channel using the highs of the channel bouncing off the old highs of 4200 in april we would have to wait untill august to use the lows of the channel to break us out of the 4200 high. Once this occurs a large rally should bring us over 5k.
As long as the price remains pushed to the higher side of the channel then on april 15th it will be pushed by the diagonal historical support into a higher high causing a reversal rally up to 5500. If price is pushed downward it will kiss the support and ride it until june/july where it will do the same thing here instead of the top of the highs breaking out the...
Very bullish as we have even broken out of our upwards channel. It seems many have caught on to my notion that the bottom is in and are buying now. I predict we now break those 2 resistance levels and head higher as more FOMO sets in, bringing us up to around 4800.