Sept20 - CPO (1M) - New Bull Cycle if Stays Above R@2.8-3.1k
I just did a long-term analysis on Bitcoin, which yielded a similar outcome -- long term Bull Cycle.
Fundamentally, I'm suspecting this is a signal for what's likely to come next -> High-Inflation or Hyper-inflationary era due to overprinting of USD (global reserve currency), which is typically marked by inflated food/soft commodity prices, & a capital flight to alternative store of value.
Back to CPO, we've been in the WXY (Elliott pattern) or triangle consolidation phase for over 10yrs, since 2009 sub-prime plunge.
Post-COVID bounce does seem to be taking an impulse 5-wave form so far, suggesting a potential wave1 of new Bull trend, for as long as price stays above 2800-3100+ R-zone.
Successful standing above Major R1: ~2.8-3.1k, on the next test, will mark the end of long term consolidation.
Happy Hunting! 🥂🚀
-jk-
Fundamentally, I'm suspecting this is a signal for what's likely to come next -> High-Inflation or Hyper-inflationary era due to overprinting of USD (global reserve currency), which is typically marked by inflated food/soft commodity prices, & a capital flight to alternative store of value.
Back to CPO, we've been in the WXY (Elliott pattern) or triangle consolidation phase for over 10yrs, since 2009 sub-prime plunge.
Post-COVID bounce does seem to be taking an impulse 5-wave form so far, suggesting a potential wave1 of new Bull trend, for as long as price stays above 2800-3100+ R-zone.
Successful standing above Major R1: ~2.8-3.1k, on the next test, will mark the end of long term consolidation.
Happy Hunting! 🥂🚀
-jk-
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.