3 Level Drop w/ stop huntOk, here we see 3 levels of drop with a stop hunt, we see a connecting parallel with one of the gann fan lines, marking a possible reversal, my recommendation here is to go long with the a stop below the previous low, please note: do expect a double bottom, it may pay off to wait and see if it does print and enter when the double bottom high is broken, ie making new highs, targets a marked as per TP1 & TP2 in consolidation areas or 'fair price' zones.
GL
Gann Fan
$75K BTC by March 1stAs you can see, we bounced perfectly from the original Parabola that BTC was traveling on before it got a mind of it's own and created a Parabola within a Parabola...a "Parabolception"
We are back to the trendline now, and I expect that pattern to happen again. BTC will rev up and hit $75K by the end of February. Bad News Bears for Altseason!
**DYOR - NOT FINANCIAL ADVICE**
PT estimates for 1/11 and 1/12 - Fan/FibLooking back at the past 2 cup formations, there is a consistent 13 bars on the 1D chart, between the two highs, before retracement. With lots of compelling, and positive, news around EV developments (i.e. Apple/Hyundai and NIO/Nvidia) there are more eyes on MVIS and their development towards the most advanced Auto LiDar on the market. The break above $5 attracted a higher level of investor, bringing more Volume and more potential to run parabolic.
Keeping the same measurement of 13 bars between peaks, this will land us on 1/12 for the next peak, and 1/13 could start a retracement.