In pure return % from the 2022 bottom (+330%) ; following 'Cup & Handle' TA guidelines, the +330% yields a future CRYPTOCAP:BTC price near the $300k mark...
Using the drawdown % from the 2021 ATH (-76.5%) and applying the same 'Cup & Handle' methodology, we have a more sober target of +76.5% from ~$70k and yield a future CRYPTOCAP:BTC price of $125k...
God speed
NFA - but I doubt we see >$200k top in 2025...
regression / diminishing returns ...
that said, fibonacci-time levels have been compelling in the past and I project they will continue to be relevant in the future.
Short term:
Recent rejection off of overall downward trend-line. This coin, like many others, are correlated with BTC's price action.
ETH (and it's subsidiaries) are experiencing greater downward price movements this particular bear cycle and are particularly more sensitive to BTC's depreciation.
Long term and Fundamental:
Altcoins going through...
2022 will continue to be unkind to the tech-industry, with a possible rebound and a return to fundamental valuations sometime in the next 12-18 months.
SE unlimited is no exception, and SaaS companies will continue their decline. It would be wise to hold a cash position, and begin accumulating at the zones below.
Thoughts?
Any and all crypto mining firms will see the same drawdowns as many of the alt-coins.
Their upward volatility during 2021 will be equally matched on the downside for the next 12-18 months.
Easy retest levels pictured. Sweep the lows - re-accumulate as needed.
Earnings estimates for last quarter were more than 8 orders of magnitude off from the reported.
www.nasdaq.com
Should this trend continue, and $TDOC sees it's first ever positive EPS, we could see a rally in Q2 where price re-tests some key levels.
(Disclosure: I have long exposure to $TDOC with a DCA of around $70)
Macro bull trend is still present - key levels for price targets seem to correlate to Fibonacci time levels between ATH Peaks as shown.
Green lines show critical, long-term resistance and support levels.
The historical trend shows max pain at mid-30k level into May 2022, with support near the yellow box.
Anything beneath the mid-low 30k level completely...
