During the bubble we had a support for the dips on the top of the 4h cloud.
Then we had a crash on the top of the 12h cloud.
The china news took us on the top of the 24h cloud.
My guess is that the next cloud that will support will be the 40h cloud (white area).
The support is still pretty strong on the 600-750 level.
40h cloud because :
1-> 0h + 4h =...
Grape is an amazing tool to show when to open short position.
Each time MACD and SAR change to show a downtrend, we can be pretty sure about a big crash/ correction.
We are actually in a critical area on the 3h graph, it prouved to be really reliable these days and we should fall soon.
Edit : Buy in target is the 400-450$ area ->
We should retest the 700 area (i m targetting 710-720 on stamp) before going up again and maybe finally break 800 (820 before another correction).
The green arrow is arbitrary setted, only the red one has been worked on.
Note : this chart is based on a lot of intuition, not strictly on TA and observation as for the 3 last ones.
I m expecting the price to rise to the 1500 area on monday/tuesday before correcting to the 1050 area.
I also used another chart for the timing, rise pattern and bottom of correction :
I m expecting friday to be a really bullish day, we are now far from the big correction of monday.
Maybe a little correction to the 680 area (650 minimum) this night, then a nice run up to break 800.
This prevision can be a little wrong for the timings/speed based on the previous run up.