Currently price is trading at the edge of a major classic fibo support. If we can stay above this level ($157) it could trigger a bullish rally taking out resistance levels along the way. AB=CD harmonic pattern suggests trading is to be expected above $577 within the next 19 days. Thus, MIN TP can be set at the $677 fibo extension, and its possible to look higher for a MID TP of $888 and a MAX TP of $1000 down the road a little. Additional bullish confirmation can be sought from an RSI value over 50 and a breach of the EMA 25 on the 4HR.
Alternatively, if we breach the major classic fibo support zone, we have strong support at the max consolidation range around $100.
Cheers and GLWT! -Erik
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We breached the major classic fibo support zone. Sooooo we are probably heading toward max consolidation. That will give us a very nice opportunity!!! XD
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YES!
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Price action is telling us this is likely gonna be the case.
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WAHOOOO
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Will BTC interrupt our party?
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70% in 2 days... I'm good for now. Will keep ya'll updated.
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Wedge broke down!
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EMA is still holding us up... and its a bigger flag now ;)
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FLAG TP HIT and some! Congrats, we are sitting with over 150% ROE so far. Let's wait for the next pattern. FYI a close above $410 is very bullish. BUT we are over the purple channel now, so its getting a lil top heavy.
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Be advised that this entire upward move could have been a corrective move. So be prepared to exit your entire positions and closer to the bottom blue channel line. IT COULD GO HIGHER...but now you know ;)
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**wait at the bottom blue channel line...
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Consolidation?
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We fell out of the channel, so it may be resistance now.
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ANother opportunity to enter this trade. I dont recommend stops tho.
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Careful as we are testing supports against BTC.
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USD chart is still bullish!
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Original plan invalidated. We still made lots of money! Thread closed.