Thinking a possible spring time local top would complete a large time frame A-B-C-D pattern around $25k. Possible sideways through summer and then explode to a final top Oct 2020 - Feb 2021. Time frames I'm using based on MA spreads as seen in my previous idea a few weeks ago.(link...
The long term support has held. It should be upward movement (in general) on month over month basis until we max out in Oct 2020. I'm expecting us to break $20k in March or April.
This cycle is moving faster than the previous cycle. On average it is taking 37% less days to achieve repeating long term technical patterns. For example using monthly candles:
Bitcoin approaching its 382 fib. The run up and short term top in early Nov 2015 was stopped by the 382 fib. Took until May 2016 before moving back above the November highs. I'd be cautious. I would NOT short. I'd like be a buyer anywhere around ~6500-7000 range before the next rally starts again.
GOOG has been well oversold on the daily timeframe with the short term MA over extended below the longer term MA, now showing signs of contraction in the moving average spread percentage. This signals a recovery is likely in play.
TESLA TSLA Short and long term moving average spreads have only been this far apart from each other (to the bearish side) on Nov 25 2013 and Feb 12 2016. Both dates, in hindsight would have been excellent buying opportunities. I'm watching closely.
Humana has been selling off since late 2018. Based on the daily timeframe we are now well over-extended below the moving averages and exiting oversold RSI. A recent bounce can allow for us to return to the previous structure levels, the nearest being ~270 area (9-10%).
AAPL setting up for a bounce to return to the mean. Previous levels based on price structure allow for a bounce target of 7% around $165 per share which also aligns with the longer term moving average.