Looking at the weekly for BTC it may be very hard at the moment for BTC to break resistance in the $35,000. area. BTC may retrace and find support in the $30,500. area around January 1, 2024. From there I see a major push with BTC flipping the $35,000. area into support around February 1, 2024 and enter into Parabola ! This may last until September/October of 2025...
BTC is looking for around a 10% increase for the week of October 16, 2023. On the weekly BTC met major monthly resistance in the $30,474. area. BTC will need to hold support in the $29,237. for any additional upside. If BTC cannot hold the $29,237. area as support we are watching for a possible completion of a H/S formation. Taking place over the next several...
On the monthly I am looking for BTC to print a higher low in the $19,500. - $ 21,500 area around Nov. - Dec. 2023. I expect a parabolic move to the upside after the April 2024 halving. Taking BTC to the $125,000. area by Nov. 2025.
October update. Patience grasshoppers , this week is very similar to the week of Oct. 28, 2019.
The monthly for BTC on the average sentiment oscillator for Oct. 1, 2019 is eerily similar to our Oct. 1, 2023.
Yesterdays daily close for BTC broke a downward trendline from November 9, 2021. I anticipate BTC to retrace and test the 21 ema area ( 39,500. ) as support before a push to test resistance in the 50 ema area ( 42,700. ). BTC needs to flip resistance in the 50 ema area ( 42,700. ) into support on the daily. Further confirmation would be for BTC to turn the 21 ema...
I also love fractals and looking for a buy entry for BTC. Looking at the daily BTC needs to regain the 21 ema for any upside movement. If not we may repeat the 9/6,9/7 @($ 52,708) - 9/10,9/11 @( $44,857). pattern which saw a drop of around $7800. A similar move occurred between 9/15,9/18 and 9/21,9/22 with a $7600 drop. This has potential to play out a third time...
I also love fractals and looking for a buy entry for SOL. Looking at the daily SOL needs to regain the 21 ema for any upside movement. If not we may repeat the 9/18, 9/19 @ ($169.33) - 9/21, 9/22 @ ($124.30) pattern which saw a drop of $45. A similar move from 9/23, 9/24 @ (150.03) would put SOL at around the $105. / 50 dma area. GL