- the bull run that occurred from 2010 to late 2013, roughly follow some key Fibonacci levels - the initial phase A-C retraced back to D before racing off to F.
- if we take the current bull run from 2015 to current, we're following the same Fib levels, but just stretched out over a longer period of time. We've hit phase E and I hope we're heading for...
The Covid Crash was the last time we touched the lower BB band and prior to that, the 2009 financial crisis.
Certainly believe there's a lot of support around 3500 in between 150 and 200MA as this is where the minor crashes in 11,16,19 bottomed out.
Worse case scanario, we'll use the bottom BB as support around the covid dip low around 2200.
3500 early August...
ETH has retraced the log support level twice now, with the 2nd hit being confluent with the 0.618 fib level. Seems to be forming a bullish flag with initial pt. of 2.5k - 3.4k.
A break through this log support would be bad imo, confirmation of the next leg up to 2.5k would be candle close above 1750.
Two bowls on the BYND charts. Seems like a strong resistance point here. Earnings on the 4th August. Think we'll see a small rally to around $50 over next couple of weeks and earnings results will decide if we have a retracement back to $35 forming a inverse H&S of PT $90 or a rally onto $90 closing that gap.
CRSR has broken out of its wedge, implying August should be a great month. A lot of confluency end of Aug time with the most bullish price target of $24. ( horizontal resistance, price rejected here before and previously used as support... )
1 - BYND broadening wedge breakout on 15th July. Retracement hit last week of July followed by downwards channel support by broadening wedge.
2 - Initial resistance level makes sense to be a golden pocket region as this corresponds to the top of the gap just below 100. Price sometimes rallies to close gaps and drops back for contemplation phase.
3 - Contemplation...
Three target prices on screen. Used two parabola's as support and resistance and will have to see if trade idea works, breaking the bowl support will be the trade failing.
On the micro scale, there's a bearish wedge suggesting a retracement back to around 5 ( support of the bullish flag )
BYND has broken out of its most recent log fib resistances. Thinking we'll see a slight correction next week. ( 15% ish ) which will also keep RSI below overbought for a while, whilst still maintaining bullish sentiment, retracement back to pink level, would form a H&S style pattern with the log chart saying target at the gap to fill.
Be wary of their earnings...
Coming to end of the bowl and we had a false breakout yesterday which created a bearish hammer.
Also a bump and run pattern suggesting we'll break the bowl and 0.00066.. ratio.
Bullish RSI divergence as well.