And there we go, price has reached the 2,618 fibonacci extention target.
from most cases, the 2,618 ratio tells us two things: 1) The fact that price can reach the 2,618 ratio shows how strong the trend is. 2) 2,618 tends to be the final target, which has a high tendency to reverse from when reached.
The Stochastic is at an oversold level, with the volume declining despite price rallying further.
Very dangerous level to trade here, might take a while, but a correction might be due.
Capitalizarea de piață a altcoin-urilor, OTHERS, tocmai a semnalat un rar semn de fund și de rally, crucea de aur stochastică în intervalul de timp lunar.
Acest semnal a apărut doar de două ori în ultimii 2 ani, de fiecare dată după care a urmat un rally scurt.
Nu zic că o sezon de altcoin-uri este setat, dar un rally scurt este cu siguranță pe masă, presupunând că istoria se repetă.
Although Bitcoin is currently in a bear market, with geopolitical uncertainty adding more risk to it, BTC ETF issuers have been buying massive amount of Bitcoin.
In just the past 8 days, $2 billion worth of BTC have been bought by ETF giants like IBIT and ARKB.
This is probably the main reason why BTC is currently outperforming the S&P 500 since the US-Iran war broke out.
Price is slowly compressing further into the lower part of the bullish channel, because of that, the 0,618 fibonacci level has been out of the picture.
From here, it's a make or break it kind of situation, either BTC can continue higher or break below the bullish trendline.
Unexpectedly, price broke through the resistance zone I marked and has continued to move along its bullish channel.
Now, with new level, the FVG is the next support level for BTC.
I'm not going to say where the local top will be as it'll be too much of a gamble, but one thing is for sure, that FVG is the closest support level for now.
Niveluri noi de preț acum, revenind la vechiul canal bullish care încă se menține.
Din experiența mea, canalul bullish nu durează niciodată prea mult sau prea departe, deoarece piața în sine nu este eficientă și se mișcă rar conform teoriilor tradiționale.
Așadar, cred că o scădere este la doar câțiva pași distanță, posibil din nivelul actual, deoarece se testează din nou o zonă de rezistență.