FiboSwanny

FiboSwanny

I have marked with arrows each of the last 7 times the RSI for $BTC on the daily chart came up out of oversold conditions. (I have the arrows marked on the price chart too when it happened) The green arrows mark the bull signals where the market found buying interest to move the market higher to start a bull move. There were 2 red arrows where the market did...

FiboSwanny

With the price hitting the 61.8% Fibonacci extension level as resistance and sellers coming back to the market, the $3120 traget is still in play. Internal momentum is to the downside with an ADX showing strength for trend. Look for selling interest to continue. Thoughts?

FiboSwanny

When the 5-day, 10-day, and 20-day EMA are all moving in the same direction, the trend is deemed to be strong (bears still in control) Trend reversals are confirmed when the moving averages crossover and head in the opposite direction. When the 5-day and 10-day both cross up through the 20-day would be the first red flag to put on a possible long position. Thoughts?

FiboSwanny

Working as expected :) I like $3120 for the next downside target (not a bottom call, just next key support)

FiboSwanny

The first breakout to the downside after a period of consolidation hit the target around $4800 and decided to consolidate again around that number. (move marked with green arrows) The second breakout after the consolidation of $4800 reached its objective, which is currently the low for the year. A symmetrical triangle has formed after the low objective was met,...

FiboSwanny

According to my Elliott Wave patterns, I would not buy stocks with your money. Hope I am wrong, or I see layoffs and recession ahead. Oh yeah, I think that has already started. A key break back above the 61.8% level here and I am wrong with this count. Stops will be in order to mitigate my loss if I am wrong. Thoughts?

FiboSwanny

On the near-term daily chart the price has pushed below the 61.8% level of the previous high and low. A full retracement back to the previous low has a high likelihood of happening. Will re-evaluate once the 100% level is tested to see if it is time to buy. Probably not as trend momentum still has strength for the bears. Thoughts?

FiboSwanny

Thoughts?