Based on the price action, algo bots, shitcoin pumps and a new higher low, it's time to prepare for the breakout we've been waiting for.
Most important is the change in algos i noticed on bitfinex. We went from being pushed down by a strong algo on bitfinex to being supported and pushed up by same algo behaviour.
Likely the intention was to retrace to 61.8% fib from 6.8k and establish a new higher low to confirm continuation. Yesterday we had very interesting bullish buying pattern, and overnight we retrace, but held 38.2% as support - very good.
Expect sharp impulse move to 7.3k. Could fly straight to 8.5k if enough fomo/liquidations kicks in.
7.3k target correlates based on 1.618 fib ext and .5 fib retracement from former 8.5k high. It's also the 1D 200MA and 1D 200 EMA zone.
RSI and MACD confirms relative space for sharp bullish impulse.
Long term view can be found here:
Most important is the change in algos i noticed on bitfinex. We went from being pushed down by a strong algo on bitfinex to being supported and pushed up by same algo behaviour.
Likely the intention was to retrace to 61.8% fib from 6.8k and establish a new higher low to confirm continuation. Yesterday we had very interesting bullish buying pattern, and overnight we retrace, but held 38.2% as support - very good.
Expect sharp impulse move to 7.3k. Could fly straight to 8.5k if enough fomo/liquidations kicks in.
7.3k target correlates based on 1.618 fib ext and .5 fib retracement from former 8.5k high. It's also the 1D 200MA and 1D 200 EMA zone.
RSI and MACD confirms relative space for sharp bullish impulse.
Long term view can be found here:
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Same story, same lines:
