A little dive into BTC dominance over the next few months. As the data suggests, the top is looking to 'peak' sometime in December for BTC and then the champagne tower flows into ETH and Altcoins. This is where I would expect to see BTC dominance reach new lows never seen before. Taking the last dominance fall of 63% as a rough estimate for the 'bottom' when then...
Update on the analysis I posted at the start of this corrective phase. We've broken out of structure and cruised towards the ATH. The only addition to the charts after the first analysis is an additional daily fib level. If we broke past the D 78.6 with the coinciding -0.27 level, I believe its time to strap ourselves in for the next phase of this bull run.
I...
Update on this badboy. Playing out nicely. Its come up to test the daily 61.8 and close to the top of the proposed bull flag, had a clear rejection printing a shooting star on the 4H.
10 days into the correction and we've only seen a ~24% drop. Still feel like theres more to come, expecting to see some movement down towards the "sweet spot" by early next week and...
1700 called last week and achieved. We took a scale in entry following the 4h analsis - W formation, 61.8 fib level, trendline and bearish bias from our daily outlook. TP 1 set at -27 @ 1692.42 and TP 2 -68 @ 1770. TP2 would coincide with the bottom of the huge weekly bull flag on gold. Will this truly be the bottom? Everyone calling for a bull run to ATH's but...
And we've reached the Daily -68 TP 2 target for our gold trade last week. There is also a 4H entry in the mix that is currently running which will be posted now.
Targets to follow.
Daily W formation. Entry on the 61.8 with the descending trendline, has broken through major key level at 1760 and is moving downtowards to TP2 at the -68 fib level. Huge selling pressure from 10 year yield breaking 1.50. 1700 incoming.
Key few weeks ahead for Bitcoin and indeed the Crypto market. My thoughts outlined on the chart. What do you guys see? Please share your ideas in the comments!
