goraxes_

goraxes_

The fractal from 2020 gives you an idea what cap happen when the fundamentals are confused. 1. On one hand we are facing global financial crisis, with all the assets priced over the roof. 2. On the other hand crypto is becoming mainstream, with ETH as the oil of the metaverse and BTC as the gold of the 21st century. How that could play out? Remember 2019? We...

goraxes_

The possibility of a double-top formation was identified and made a bearish case on the macro level for BTC. On the other hand I see an other pattern emerging as well. You can see it with blue on the chart. It's a Bullish Flag. Enjoy & Trade, Goraxes *** Not Financial Advice. ***

goraxes_

Hello Folks, A LINK analysis for you. 1. In an Ascending Triangle, approaching breakout. 2. Fractal from former recovery & price discovery combination displaying potential price action. 3. Fibonacci levels to give you an idea about potential targets. Enjoy & trade, Goraxes

goraxes_

Hi Folks, A Reef analysis for you. Requested by fellow trader @tview313. Reef is a DeFi platform, built-on Polkadot, providing a more efficient alternative to ETH and offering broad integration with other protocols. The Fractal is showing potential price action, while the Fibonacci levels give you and idea on potential targets to keep an eye on. The first...

goraxes_

Just repeat the parabolic growth cycle again. Touching the 21 SMA now and then.

goraxes_ Updated 

This is a pattern showing a scenario featuring exponential growth. If BTC remains what it was in the past, this is just possible. 25k next month doesn't mean it can't 10x within the next 6 months. This is not financial advise, neither a prediction. This is a game of patterns. What will happen? If BTC's fundamentals change, if it gets flipped by other assets,...

goraxes_

The curves are illustrating accumulation phases. We seem to be approaching the end of the second one. Fractal from the last bull-run indicates potential price action, while Fibonacci levels give you an idea for targets. Enjoy and trade, Goraxes

goraxes_

Numbers and timing are arbitrary, the focus is on structure of events and patterns. Best of luck to all, Goraxes

goraxes_

We are sitting around RSI 61. In recent BTC price action history there are several turning points at this level. Both the breakdown and the bull-run was preceded by volume decrease, signaling an incoming trend reversal. What will happen next? Is it the Supercycle or a huge correction? What do you think? Opinions are welcomed in the comments section.

goraxes_ Updated 

60k is a key price level. Breaking significant psychological barrier needs multiple attempts. Fakeouts (eg. the last time 64k) are included. Psychological point. ==> "It's the top" (=Not much belief left.), "The parabolic hasn't started yet" (=Much belief left.) Market now: Undecided, but with less and less supply left. (Non-believers sold. Believers bought and...

goraxes_

On the D3 chart volume is declining, while the RSI is around 50.5. A similar pattern developed before price broke 10k. Volume decrease could mean a further correction, or sideways movement. RSI around 50 is close to the bottom value of previous cycles. Putting them together: sideways/correction then reversal? What do you think?

goraxes_ Updated 

If price goes down but finds support higher than 54k, this formation is imminent. A sure way to exit the 50-60k zone. The 4h 50MA is currently around 56k, which makes it a perfect support level for this kind of action.

goraxes_

60k and 62k are key resistance levels. Support levels are indicated by the lines. The 1D 50MA could be tested again.

goraxes_ Updated 

A potential scenario of reaching 58k in 14 days. Tools: Bottom formation on Candles around 43k. (Bullish Engulfing pattern followed by Three Marching Soldiers.) Bullish divergence on the RSI 14. Potential key price levels by Fibs on the Micro scale. Assumption: The top of the last wave (42k) is the baseline for this correction. Most likely it won't be a...

goraxes_

Playing with FIBS and Bar Patterns again.

goraxes_

Playing with patterns, to inspire your vision on possible BTC price action.

goraxes_

Big H&S is concerning. Not saying to sell, but to be aware!