It has been a while, so first I would like to thank you for reading this post. As always, I welcome any positive constructive comments and points of view I may have missed. To be clear I am mid-term (4-6 months), and long-term (+1 year) on …and I have been quite for a while. Earlier today I was working on some quick TA for a tweet (I will post the link in the comments section since there are some charts in it that were not saved that are pertinent to this post) and I noticed a few things that peaked my interest into making this analysis, so here we go…
In the chart below we can see the Fibonacci Time Zone tool, which has been pretty on point…the next Fib Time Zone is December 10, 2018…
In a look closer on the Daily, over the past 8 months, we can see where Divergences have built on the …currently is at the base of a completed with a …
With a complete bottoming out of the on the Daily…
An that hasn’t been this low since August 16, 2015…
And not nearly this close since August 13, 2016…
Godmode on the Daily has fired long with a cross…
Now the following two charts pertain to my tweet (linked in the comments section at the end of this analysis) from earlier today prior to the Weekly close, and in comparison we can see a fast and significant drop in the Godmode leading indicator…
and …
…which are breaking down with little movement (currently) from BTC’s price in the same direction. This potentially signifies a local bottom in or near this area…
And, finally, on the Weekly we see last weeks candle bottom broke the lower and price is currently moving toward a second break for a …the last time came even close to the lower it saw a price increase of nearly $3000…
Locally, on the 4 Hour, the have tightened, with an oversold and a cross on the Godmode…
Price is already beginning to break to the down side for a lower break with Stochastics and Godmode moving towards a bottoming…with this I am looking for another downward move toward the 5300 level for a …
…this move could very well take all week to set up, bottoming out the indicators, or, with how swiftly they have been moving it could happen in 24 hours- your guess is as good as mine…
…but after that move, with Daily’s and Weekly’s coinciding here I am inclined to think an abrupt, and unexpected move by many, up towards the 7300 level is in fair play…
My overall outlook on remains the same, with an end of the bear market nearer to the $3300 level…
…but these signs are telling me we may need to wait a bit more for that…updates to come.
Published at Mon, 19 Nov 2018 05:22:19 +0000
