A confluence of Volume Profile POC's and Fib levels. 1. 47k big resistance 2. 47k - 59k range bullish 3. 37k - 38k support if 41k doesn't hold.
If we get a relief rally going into February, it could last for 8 weeks reaching a blow-off top around 0.2 at the end of March.
On December 27 would be the bounce out of the consolidation range.
The way I'm looking at it, ALGO will either under perform or do a 10x from current levels by the end of 2022.
This is the generally accepted 4 year cycle a lot of investors/traders believe in. This chart shows the following: - 2013 top in November - 2017 top in December - Projected 2022 top in January at ~$130k. - Projected 2026/2027 top around $500k I'm considering the idea that this cycle will continue well into 2022 and break this long-term trend and possibly usher...
The red line indicates a possible target for an ETHBTC market top within the coming months. The yellow dots represent alternative market tops, where both BTC and ETH are at their respective market tops at the same time. (See related charts) The red dots would imply ETH being at its market top, and BTC below it.
The red line indicates where the market top would hit. A red dot is the last week of the month.
Each dot is the last week of the month. The red line is where the market top is supposed to hit, so each red dot represents the market top if it occurred at the last week of that month. Yellow dots corresponds to a red dot on the related ETH and ETHBTC charts. For example, if ETH and ETHBTC are at the top of the channel on their respective charts, BTC price...
The forecast is based on the top trends and Fib levels. Last year is the only time the 3.618 Fib top target failed, and I blame the stupid pandemic. The projected price is at $158 by the end of February.
Assuming the bottom is in for ADAUSDT, the next target is the 1.618 Fib, which is at $3.85. If it doesn't break out of the red trend line, I'm looking for a second try after a bounce off of the green dashed line, which would start a new trend.
These are three different best case scenario's for BTC. Not counting on any of these happening, but all three are within the realm of possibilities if the bottom trend line holds in the coming months.
If the price approaches the red trend line within the coming months, it's definitely a signal to sell.