Nasdaq broke out from its long term channel and is heading to 20k .
Fibonacci time zone is indicating a fibo 2.61 in time , supporting the triangle formed uptrend channel.
We expect a correction to 15000 after 20k..
An AI SW had predicted for this rally a target of 65000 (a fibo 2.6) which we reached.
CCI is falling on the weekly since 4.1.2021 indicating a nearing change in trend direction while the BTC price went up 50% during this time ( bearish divergence).
On the daily chart we se a rising wedge pattern ( bearish ).
That is why we say that the BTC-Rally has ENDDED...
BTCUSD created a pennant on the weeklly. Target 14k, which saw a lit bit late.
A pennant is a continuation formation and entry points in existing trends.
A pennat on the weekly is a very strong signal and should not be ignored.
Pennants target is 14k.
The big picture on the daily is that we still have a valid down trend
(lower lows and lower highs since 3th Jul 2019)
We have a broken correction on the daily and on 4h.
Elliot wawe 5 completed on the daily and we finished AB correction and heading down to C.
The lower channel band is at 1200 USD (previous ATH).
The down trend from jul. 2019 will be broken...
Crypto-ocean is stormy and sometimes storms last for many year as it is the case for Ethereum and Bitcoin.
Normally a coin makes an All-Time-High (ATH0) then corrects to the previous ATH (ATH-1), a.s.o.
Hier is an example for such an healthy correction:
This is not happened yet for ETH and also not for BTC. At its deepest...
I know a person, who was teaching trading at a big german bank.
He told me that big players in the market earn their money during corrections.
This makes sense, because they can not sell their huge assets at the top, otherwise price would fall like a stone and they could not make money.
If you check the chart we are currently 10 times above the last ATH(-1) and...
The drop from 10k to 8k was probably the last time, we saw BTC in that level.
Charts are symetrical and after 3 years of correction, it looks like that those who bought, already bought and those who sold already sold.
The chart talks a clear language, The symetrie is complete. Monthly is very bullish!
So in MY OPINION a breakout from 10k will skyrocket us...
charts are usually symetrical during a correction. You will find the past on the left side, symetrical on the right side in the future.
To know/guess the next target it is important to know where we are on the left side currently (The arrows). So we are moving to 17k, then a correction to 12k then we'll test 20k. Then we'll make probably a run to 180k.
PAPIL more then doubled and on the daily overbought.
The stock doubled after the initial offering.
PAPIL built a triangle on the 4h chart indicating that we'll have a 5th Elliot wave to 14.25 TL or to 18.86 TL.
It is also possible that the current (FIBO 1.6) ATH of 12.08 will correct to 8.10TL, 9.1 TL offering buying opportunitinies at those levels.