Long

The Next Impulse on ChainLink

Updated

This is based on Fibs and a fractal. Minus the fractal, I used this same method to predict yesterday's impulse to $17.40-ish to near perfection. The timing may be off, but if we leg up again, and I believe we will, the blue region (approx. $22.12 to $23.13) is the final TP for the next impulse before a retrace to the 0.618 or so. I'm also assuming the start point is based on a wick from the fractal that has not yet played out. This may add a bit to the uncertainty, but not much. Should still be close, either way. If BTC crashes, this will likely not hold, but I think BTC will be fine long enough for DeFi to finish its' business.

Note

The increase occurred prior to expectation. We are in the higher Fibs. I still anticipate a rise over $22 provided BTC & ETH remain stable.

Note

This morning's BTC pump has left this one in danger of falling out, but still at the bottom of the move, with the top of the last move as support. If you're enough of a conspiracy theorist, you might believe that BTC stopped pumping where it did so as not to crash the DeFi leader.

Trade closed: stop reached

Thought I closed this one already. Must be remembering another message board.

Fractal predicted the stop to near perfection. Once it returned to ~$16.91, I cut it.

DoctorWhat

Also on:

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.