If you think this massive accumulation isn't going to result in a massive move, I cant help you. once we get a weekly close over $385, we move and move fast!!!!
Pease note that NOTHING has changed on $BTC. I still see strong support just over $52K. I also still believe the High could still make the full Fib extension
While we have struggled to get a weekly close over the first Fib, the structure is shaping up as an explosive one. While many are calling for an end to the Bull market in stocks after a 3 day rout, and also feeling the crypto Bull is waning, the contrarian and technician in me is screaming BUY!!!! Don't sleep on $DASH, its rise is Just getting started.
NOTHING has changed during this mild correction. We have simply rejected at the .382 Fib, or better stated at $1677 area. Once we clear this hurdle, we get have some real fireworks. My focus is not on the daily noise, but simply follow the charts. There is NOTHING in the $BCH chart that says sell. Period
Any breach of this trend line would send the S&P further south. I am also watching the Short term time frame on the $USD & VIX. The most notable thing is that we closed ON THE LOWS. So tomorrows candle close will be very important. And candle body BELOW the black line and selling could intensify.
We are fast approaching this important Trend Line. I have updated the box of interest in red. I personally believe it will hold. Any breach lower and we will have to re-evaluate.
Regardless if your a bull or bear. The above trendline is a VERY IMPORTANT one. It is drawn at a very precise point in this cycle. It is NOT from where the Bull market began, but rather laid over when $BTC finally cleared its prior All time High from 2017 of $20K. The fact of the matter is that a hold of this line keeps the Bulls firmly in control. A loss of this...
Quit freaking out on small dips that are merely retraces back to support! $BCH is gong MUCH higher, BUY THE DIP!!!!
Fib within a Fib. So far the shorter term price action has held above $925. However, any break of $920-$930 area would send us lower to just under $820-$825 area. The main take away, regardless of Short term price volatility, I still see $BCH making a larger impulse after any chop transpires.
The below is why I am super Bullish on $BCH. We have been in a long accumulation period for over 3 years. Once we can clear the first major hurdle just under $1100 on a weekly close, the price of $BCH has a minimum move of 400%.
Next level down is $51K if we reject off of overhead resistance
The above chart is giving three probable scenarios for $BTC's final Top. Note, while I appreciate others views that $BTC is going to $100K and beyond, I also believe that. However, based on the charts that would be in the NEXT cycle. With $BTC now in a corrective structure, NOW is the time to look for where we could go once we bottom. I have laid out three...
The First Fib is always the hardest! But once it breaks, $DASH flies!!!
This is the way things should play out. Disregard the timing, as I believe we Top before year end. Enjoy! Feel free to follow me on Titter @JTheretohelp1