Since BTC broke the Daily EMA Ribbons, it hasn't tested the Ribbon. We can test it like we did often before. It would bring us to +/- 54k, wich is also the price target of the Head and Shoulders Pattern. Don't panic and give Bitcoin a little rest. We can only appriciate a test of the EMA Ribbon, because this will give BTC more strength to rally further.
The well known Stock to Flow model of Plan B is forecasting a Bitcoin price of 100K this cycle. When we draw the Fibonacci levels from the beginning of this cycle to the top, we can see the -0.618 Fibonacci level is exactly 100K! But we can make the story even more strange: Bitcoin can form a Cup and Handle pattern if can reach the previous high. Price target of...
Great opportunity to buy VeChain before it flies up. Look how a falling wedge is forming, in combination with a rising MACD. VeChain has been locked in the wedge for a long time now: how longer the price stays in the wedge, the more explosive the upward move will be. Great buy.
BTC is forming a falling wedge. Divergence on the MACD tells us that we can expect upward movement sooner or later. A move toward the 0.382 is possible before going up. This will give the upward movement a lot of strength.
BTC is breaking out of triangle, wich can bring the price in the upperlayers of the 4h EMA-ribbon. This will result in a W-pattern for Bitcoin, wich will bring the price also higher. Reaching the pricetarget of the W-pattern means the 4h EMA-ribbon will flip.
Can we expect a break of the ribbon?
Features of the previous break:
- Fierce drop into the ribbon. (without a bounce on the upper side.)
- Huge wick under the ribbon before breaking it
- Fails to bounce on the ribbon. Only a little green candle in the middle of the ribbon.
We see this 3 features right now.
To stay above the ribbon:
- Bounce on the ribbon (and...
Bitcoin can retest the Fibbonacci 0.382 level (green line)
Divergence not paid out yet, Price target of broken wedge is around 43.200 dollar. This also the bottom of the EMA Ribbon, wich is a strong support.
U.S. Dollar can live up for a while: W-pattern is forming, wich pricetarget is in perfect confluence with the 0.5 Fibonacci Retracement level, wich is a very strong resistance. After that, the U.S. dollar can fall further. This is, in my opinion, inevitable because of the ongoing money printing wich has to result in a less valuable dollar.
W pattern forming, wich can give new all-time-highs for Gold. When breaking out, longing Gold would be wise.
Divergence on MACD makes it likely to actually form the W-pattern.
Forming of Wedge signs: (and so a local dip)
- Clear divergence on MACD
(between the two bigger highs
and also the second top in itself displays a divergence)
- The need to take a breath after a strong run
- Wick forming (also on the daily)
Forming of Wedge signs: (and so a local dip)
- Clear divergence on MACD
(between the two bigger highs
and also the second top in itself displays a divergence)
- The need to take a breath after a strong run
- Wick forming (also on the daily)
In this chart the M-pattern, wich broke out and reached the price target exactly. When you draw the Fib Retracement from the start of this parabolic run (around 10 000 USD), the 0.618 / golden zone is around 30.000. We wicked down and reached this Crucial Fib level exactly. When we hold, an amazing buy opportunity is there! Maybe we can even close the day around...
