drcrypto14

drcrypto14 Updated 

bitcoin finally tapped the r5 daily pivot this morning, completing it's run of all 5 pivots. looking very weak here. dxy also at support and spx tapping trend line resistance. also, for the astrology people, lunar reset this week. think this elevators down.

drcrypto14

link finally flipped our zone. looks great. although an entry here likely is not ideal. we should be looking for dips to long. if you zoom out, this is a nice bottoming range. should have tons of room to run up this year, if the market keeps pushing.

drcrypto14 Updated 

felt strange to never hit our wave 1 fib box, which you almost always see in a wave 2 box. think we're finally gonna tag it. trend line rejection. nuke it.

drcrypto14

from a macro perspective, we think 2023 could be a great year for swing positions. one of the ones that really sticks out is $coin. huge valid bull div on rsi. just closed out the gap. this should run up for most the year. should long and add on any dips.

drcrypto14

dxy tagged local bottom yesterday as it hit the daily s1. expecting a run back up to the weekly pivot around 104. tapping rsi eq. should really start running once it breaks through. short setups from the last few days are linked here.

drcrypto14

given spx weakness and dollar strength. would like to see disney fill some gaps here. bottom of our wave 2 box would fill the $87 gap we left behind and confirm a bottom.

drcrypto14

if this was indeed a wave 1, i'd like to see a significant pull back over the next couple of weeks. wave 2's almost always pull back to at least the .618 -.786 fib box of wave 1. confluence with a trend line retest. invalidation below the low.

drcrypto14

we also like eth vs btc due to the decreasing bearish momentum coupled with the confirmed daily bull div. looking for a retest of the local high.

drcrypto14

holding on by a thread here, but fighting off 2x ppi expectations here. fomc minutes this afternoon. cpi tomorrow. if it can hold this low through the release of all those metrics, think we should see some nice bullish momentum the rest of the month. uptober ain't dead yet.

drcrypto14

absolutely brutal range lol could make the argument this breaks in either direction, but we're still leaning more towards the bullish break. a few different ways you can count this out. think we're most likely in a macro 1,2 (1,2) count as long as the higher low count is respected. we've been longing this local w2 box grouping.

drcrypto14

a ton of fairly good setups out there. continue looking for the high beta plays. from a macro perspective, if we get this zone as the swing low, avax should run much higher.. but from a local perspective, we think $19 is a conservative 10% target where we'll likely start to see some turbulence.

drcrypto14

eth holding it's wave 2 zone. was expecting this to fall out with the rest of the market, but everything holding leads to bullish wave structure. can't seem too break yearly vwap. target should be slightly larger than wave 1, putting us somewhere betweeen 2700-2900 range.

drcrypto14

strong volume today mixed with legacy bull volume. feels like an awkward double bottom, hence the target. think there's a chance we finally tag $28k minimum with a tp2 arond 35k.

drcrypto14

really like this set up. good chance local low will hold. 4h bull div present coming out of oversold with a reclaim of yearly low. looks really good.

drcrypto14

pretty clear rejection at FOMC. local low test next. prolly get some type of bounce there. macro, however, this looks awful. gaining confidence in revisit of 3k.. which would nearly round trip this entire covid move.. talk about brutal original chart linked.

drcrypto14

lost a very key level last week. standard wave down should expect a target of ~$1400. expecting to get some real momentum in the coming weeks.

drcrypto14

sol struggling in this zone, like everything else. eyeing the yearly low just above $25. would flip bias if it was able to recover and flip the box.

drcrypto14

most coins appear to be in their 2nd wave down on the 535 pattern with failure at both the q3 and yearly vwaps. this should lead to bitcoin's june low. think there's a good chance we see sub $15k by eow.