Taking a look at the MACD it indicates a Bullish Reversal is upon us. If we see a similar run as in April, that puts us right at $1 EOY
Let's see if we can finish the day above .270, I do believe we'll see a healthy pullback before testing that resistance. We still have a possibility to fall back into the low .26 range as well.
We are in a nice healthy pullback which dropped us right to the 2.50 support level. Next we should see a nice uptrend towards 2.80 to end the day or we will fall below the support level & end the day around 2.40.
We have broken above the top resistance of the pattern that it's been in since Jan '19. This is very bullish moving forward, today we may continue moving up into .40+ but don't be surprised if we see a healthy pullback to the .30 support level.
If you take a look at the RSI it indicates ~ Oversold which is typically led by an Uptrend movement. Taking a look back on Oct 31st you can see we also dipped to the Oversold indicator which was followed by a nice Uptrend. Next we may see a push towards .30 through the weekend with the Upgrade to 1.14.5 this could add to the trend.
Taking a look at the RSI we have dipped down to being Oversold, which if you take a look back to Oct 31st, we we're also Oversold. What followed was an ATH at $3.30 which I do believe we will be headed towards $4 this weekend.
We may break this pattern & continue moving sideways into December around .27, or we may jump off the 50 EMA & begin our run toward .35..
I believe we'll see a similar move as we did in February & end Nov. around $90,000
I'm feeling like we're nearing the end of this consolidation phase, we may move downward then sideways creating a Head & Shoulders then fall too .225. Or we may see a Uptrend play out heading towards .26 with a retest then make our way too .28. What are your thoughts?
I've had this Wedge mapped out with the Elliott's Wave for 2 weeks now. Should see a nice push through .30 followed by a retest then another spike too .40
I believe we may see a large pullback too .15 as we approach October. I analyze the S&P 500 chart from time to time & we have just hit the top resistance in the uptrend we've been in since Feb 10th. We may see a large pullback of about 30% which will also have an effect on Bitcoin, with that being said we all know that Bitcoin controls the Crypto Market so we...
We've crossed over a resistance & just may have turned it into a support level that could give us momentum to see $52k. If we are unsuccessful then we may fall back down below the middle trendline finishing up this Elliott's wave which would put us around $38k.
Do you think this Fib Retracement will play out, or will see see the second leg of a large pullback?
I've highlighted the Resistance lines in Yellow to make them more visible. We've got support at $37,300 which we could see either a sideways consolidation through the month or create a Head & Shoulders. Which would cause us to break the $37,300 support line & drop down to the previous low of $30,000 as we head into November. There is a chance to bounce off of...
Our most important support level is at .23, if we break this level we may fall too .20 followed by a consolidation phase. Or we could consolidate between .23 & .26 through the weekend. Slight possibility of a breakout moving into early Saturday morning. 🙌🏼
Going off my precious chart we are lined up for a breakout, but will it be a Sell-off or a Uptrend towards .30?
I placed arrows that are correlated with the RSI, Green represents the Oversold & Red represents the Overbought. Where we are now is at an Oversold zone, which I do believe we may see a Bullish reversal to test .30 through the weekend with a consolidation above .25 Or we could see a Sell-off & create a Double or Triple Bottom like we've seen plenty of times from...
We will see .24 as we head into the weekend but must watch to see if we break the .23 Support level, thennwe may be seeing a complete bearish reversal. If we are able too bounce off of .23 then retest & break through .24 getting into .25 then we'll be heading in the right direction.