@cybergrinder
Over the last week we've started talking more Bitcoin, crypto and markets during my streams again which I've kept on my low flame since my return to streaming. We've been also looking at some charts for coins like BTC, WAX, MATIC and of course LTC and posting this update for those who were there yesterday. In particular @mypathtofire ;) This is BTC and we were analysing the chart yesterday which suggested that BTC got rejected just below the 0.5 FIB level and though it had broken the (my) trend line it maintained the consolidation channel. My view was (and is) that BTC went up so fast that we've created a huge gap to the 100 MA and I suggested that the consolidation might continue until we've pulled up the 100MA to meet the 0.382 to trigger a new multiband MA crossover which would suggest another leg up. Alternatively BTC could lose the FIB support and fail the support test at the 100MA which would indicate a possible correction further down. Looking at the chart now our analysis has held up over night and we should see what happens next throughout the day or by tomorrow.
5 comments
Thanks for the analysis CG. Its good to see your market thoughts.
I appreciate that! It seems as if our analysis might actually happen. The FIB has held over the last few hours, the MA is slowly creeping up to meet that level and support above 22.4k seems still strong. I'll be live soon so we can take another look throughout the day and see if we did a good TA :)
Cool!
Look! That 100MA is about to hit that FIB and crypto twitter reckons we're going to 15K. 12th day of a textbook consolidation between FIB levels after being massively overbought.
unless some unexpected news today, we should go higher! 25k+ incoming!