With last week's close Top Goon X confirmed a "strong sell approaching" alert.
This is only the third time the alert has been given on the weekly time frame.
Top Goon X is an indicator developed to read bullish/bearish trends and warn of reversals.
If we're in a bear market, we could expect to see Bitcoin revisit sub $20,000 one more time before it's eventual move to over $200,000.
Possible targets are $17,000 and $8,900.
I'd expect a very strong rebound if price reached $8,900 and I think the next month would be the biggest green candle in Bitcoin's history.
The most bullish thing Bitcoin can do right now is correct back to $40k levels
During 2017 bull market exactly 217 days after the 0.382 fib retest from the previous ATH we saw a 30% correction
We're now exactly 217 days from 0.382 fib retest of the previous ATH.
A dip would be an absolute gift. I would expect an extremely parabolic move to follow if a dip occurs.
The last day of each month has closed red in a tight range almost every month since December. The one green close was a doji.
BTC price tends to see a small drop prior to a bullish move to start the month. Interesting to see if the pattern continues.
Looks like BTC is developing a bullish descending channel. Great for the future, not great for the present.
Rejection of my EMA's will likely see us drop to new local lows.
I'm still hoping to see my long term LTC target of $18 which would match up well with a drop on BTC to $2900.
My indicator is showing a "strong buy approaching" signal on Litecoin's weekly chart.
The "support buy" is not based off the indicator. It's more of a level I may consider buying as a support level. It's a logical bounce spot if I were just using PA to chart.
The two lower levels are conditions set by the rules of my indicator. The 0.786 fib level is typically a...
I am now completely out of my ETC position from below $4.00.
Convincing breakout from the down trend. I'm looking to buy any and all high time frame dips for long term accumulation. I've outlined my two potential support areas below.
This could see a 300%+ moving over the coming year.
4H chart pretty straight forward. My indicator gave a strong buy signal last week and it continues to play out. We dipped when the indicator crossed into the mid zone which is very typical. Now that it's above the midzone, price should continue upwards to $7.8k+
We started following this fractal on Twitter back in September when price was above $10k.
It's down 35% now and nearing a potential bounce area.
It's looking like we could get a small pre-halvening pump but we may not see over $10k for some time.
Something to prepare ourselves for the possibility of this.
Sorry I haven't been posting much on trading view lately.
Feel free to check me out on Twitter @nebraskangooner or at www.elevate-trading.com where I post most of my content.
Bitcoin parabola broke providing a bounce but it looks like we are still in for another drop. $6.8k seems very likely but I would expect to see $6.3-6.5k area.
I've had these trend lines on my chart for over a year now. I was using them during last year's bear market and have put them back on my chart. I've also been following this fractal for the last couple months and it's been shockingly accurate.
Looking at price action and events, this is a very likely scenario that could happen over the next couple of years. The...
I posted a thread about this on twitter back when BTC was at $3800. The link is included below.
Basically we're seeing a lot of similarities here. There is still potential of a dip to 6.5k even based on this fractal. But i would assume that would get bought up quickly if it happened.
Otherwise this comparison puts BTC at $19k area in May of 2020. Which just...
I've noticed a lot of similarities between the 2014 parabola/bear market.
I've been monitoring this since before the recent dip below 8k and it's been following remarkably close.
Will continue to keep an eye on how this develops.
My indicator really likes BAT here. Strong buy signal given and criteria met at the 0.786 fib. Finally criteria needing met is a close above and retest of the 0.382 fib which is occuring now.
Watching this downtrend closely. Break upwards from there could work out nicely.