JTheretohelp1

JTheretohelp1

NOTE: we successfully back tested the prior 2017 mid cycle peak to perfection. That peak was also followed by consolidation, yet went on to rally over 1200% after. Its also important to note that this has all been done within the confines of our weekly trend channel :)

JTheretohelp1

Higher highs higher lows with trend line and MA providing support on last correction

JTheretohelp1

A Bull market is recognized as Higher highs and higher lows. $BCH, while extremely volatile has exhibited the HH $ HL's and has even held above both its weekly MA and Trendline after our last correction. New Highs head? Time will tell

JTheretohelp1

The Body of the Weekly candle remains BELOW our Inverted Trend. Wick represents classic Bear trap with wick. Bulls sill need to get over $41.3K, but I would sell this chart, which means I would be LONG $BTC

JTheretohelp1

I see a minimum target of $6K. That is based on the confluence of two separate Fib overlays, trend & MA Support, and $BTC making a new ATH.

JTheretohelp1

Cup and Handle price takes us to a minimum of $600 plus in conjunction with the 1.618 Fib Retrace. That is the MINIMUM TARGET if price breaks ABOVE the top handle rail

JTheretohelp1

Currently we have a perfect Wyckoff Bottoming schematic that has played out. And while the Bulls can breathe a sigh of relief, the real work will still be overcoming resistance at the $41.3K level.

JTheretohelp1

Note the wick on the Monthly candle. Is smart money now covering their shorts. Based on the long upper wick, this seems quite plausible

JTheretohelp1

A wick below the trend channel is possible to "tag" support. However any full break, with a closing candle body BELOW the line drawn and Bears are in FULL CONTROL

JTheretohelp1

I took a stab at buying support here. If it breaks the risk is small. If it holds and breaks up the Rewards are large. SL's in place

JTheretohelp1

Either this breaks down and we go deep into a Bear market, or we are about to make a massive rally soon.

JTheretohelp1

Would you sell or buy this chart???

JTheretohelp1

Don't think it could happen, think again! This would actually make a lot of sense from a cycles perspective as well as a confluence of supports and other prior fibs. The narrative is simple: Equities crash, dollar rallies. Gives the Fed cover due to Inflation running hot, then just like clockwork they come to the rescue to the crisis they created, by Printing even...

JTheretohelp1

Just throwing it out there

JTheretohelp1

This is a a real possibility.

JTheretohelp1

A bit scary

JTheretohelp1

If we break the Arc line, I am worried. If we break the bold Green Line, I am retiring my Horns

JTheretohelp1

Course we take zoomed out. Next chart will show it zoomed in with levels that cant break or this chart is invalid and I turn bearish