I just did a long-term analysis on Bitcoin, which yielded a similar outcome -- long term Bull Cycle.
Fundamentally, I'm suspecting this is a signal for what's likely to come next -> High-Inflation or Hyper-inflationary era due to overprinting of USD (global reserve currency), which is typically marked by inflated food/soft commodity prices , & a capital flight...
Projection based on 2016-2017 Bull run price action + fib projections + Elliott wave suggest end of WXYXZ complex correctional wave
Strongly believe that 2020 will be the LAST CHANCE to buy Bitcoin near $10k , and that we won't see 4-figure Bitcoin price going forward. 🚀🚀
Fundamentals? -- See how much Fed is printing & how messed up is paper money globally. 🤷🏻♀️
August sideways box, ranging roughly btw 2600-2800 zone has been broken, and recent test shows price chosen to stand above it aka bullish.
Immediate resistance is near, R1 @ ~289x-291x ; while new support is formed, S1 @ ~278x-280x .
Sideways-Up situation for me...
Staying above immediate UTL, L1, may send price higher above >2900
Else, we may be in another...
Failing S1 will invite BEARS, my MAJOR position targets are: 148x-150x, 138x-140x
Don't forget to refer back to midterm ABC correction post below for potential minor targets.
Faster Update on T3L3gram: MyTradingSpace by JK
Happy Hunting! 🚀🚀
My ultimate fib target for LINK is reached at ~$17.7 (projected from 2019-2020 first upwave to $4.5x)
Profit take at 16.8-16.9$ area ✅
...part of my small alts portfolio, besides the MAJOR HODL on #BTC #ETH
If you continue to hold #LINK,
[ b]Good Luck! :) 💪🏻 💪🏻
Weakening momentum finally coming into effect. 🐻
First close below UTL-L1 since July, potentially find L2, which resides near S1: ~260x
Sideway box between 2600-2800 thus far, if S1 fails, look for next support zone, S2.
Major Levels to Watch: ⚠️
My latest mobile updates available on TeL egr am ;)
Failing to stay above:
1) Major UTL carrying rally from 12xx COVID-lows
2) Unable to stand above 158x-160x immediate resistance zone
These will lead to further correction. 🐻🐻
near term target: S@~150x-2x, daily ema100
Refer back prev FKLI post for multiple horizontal support zone;
also, not to forget mid-term major correction back to 140x which is still in...
Prev post support target, S1: 154x-6x reached~ ✅
After whipsawing between 158x-161x for the most part of July, I believe we'll see further weakness on the index in August month;
with prolonged momentum weakness since June top, while price now testing the major UTL carrying rally from sub-1400. ⚠️
Watch: UTL (blue),
If UTL fail, we will see further weakness...
Decided to check on the long-term big picture, following CPO recent strong up-move towards 2800 area (again!).
---- marked: grey zone
2600-2800 zone is kinda midpoint to the decade-long correctional pattern following '08'09 subprime crash.
A fib plot of the sharp plunge, shows each levels coincides well with CPO major support & resistance zone.
The week started weak, despite a high close on Friday.
Past week's momentum weakness effect kick in, immediate UTL (blue) violated, potential retest ~2500 mark shall price stay below R1 ~270x.
Happy Hunting! 🚀🚀
Strong rally, as price continues to break higher, momentum has been weakening since July15.
Thus, may see some sideways consolidation ahead, before market decides its next major move.
At the moment, still early to set the boundaries for potential sideways move ahead,
For now, potential range between 260x-270x, or wider, will update as price develops. :)
continual weakness as price failed to stand above 1600 mark 3times in a row in July.
Shall 158x fails to hold, we may see weakness towards 154x-6x support zone.
Meanwhile, mid-term ABC correction still in progress... ;)
Happy Hunting! 🏹🎯
Temporary top on FKLI, companied by weakening momentum, short-term favouring bears. 🐻
Quick Short idea, in line with the major Bearish ABC correction wave view.
Refer: July06 FKLI post below 👇🏻👇🏻
Happy Hunting! 🏹🎯
CPO still playing within 230x-240x range, which has pretty much defined price movements back in June.
Next test on S1: ~230x will be crucial for CPO mid-term (3Q2020) outlook.
Slight biased to the bears as of writing. Shall S1 fail on next test, major target will be S2 zone.
Levels to Watch:
Major R: 244x-6x
Major S1: 230x-3x
Major S2: 220x-3x
Mid-term ABC Correction went as expected, see prev post from June15.
June15 - FKLI (1D) - Mid-term Correction towards 140x... 👇🏻👇🏻
Currently, we are in waveB (see: baby blue arrow marker), which may find resistance near R1, 154x-6x.
Declining volume suggests/confirms the correctional-upwave.
I'm positional Short for...
Thursday June25 gap down violated Daily UTL... 👇🏻
Momentum weakness, look to S1 as potential first support zone.
Important Levels to Watch:
Happy Hunting! 💰🚀