Detailed chart with all fibs we need, got many vertical time targets in there as well to learn and understand where trends reverse. Observe, study and learn to use this chart and you will come a long way. No further explanation, those who are passionate enough will figure it out anyways.
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So simple things, what does the chart tell us.
First off we broke down again through the .618 support zone, in my historical bubble chart this is also a crucial level and dump further normally to deeper levels in sometimes a very short time-frame. The .382 is a great retracement level and I would definitely buy if we reach this, which is around 8200.
Breaking below .382 can cause a big panic spike to 0.236-0.295, these are excellent to buy and hold and such moves only last minutes. For now the 8200-9000 level seems to be a great bottom and should definitely hold, I will be buying here long-term and hold it for +10400-12700 level.
All this vertical momentum will be translated slowly into horizontal momentum and consolidate before the complete bear trend is over.
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Throw back to the Historical Bubbles chart, to study and learn the retracements and behavior.
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We are in stage of disbelieve and denial.
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You can always go to the Share Button and click on "Make it mine!" to get this chart in your own view and edit or adjust it.
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Larger picture of most USD pairs.
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Yellow is a get out level, Above is way too risky to hold, resistance will begin at red. Its where historical wicks are too so it can go there, but since it broke it has turned resistance and probably retests it before going down and people stills got fuds for 8k. The triangle that broke after yellow only has one large down leg so it has to create atleast smaller down leg hitting the red zone.
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12600-12700 is 61.8 retracement level, we could see above 13k but it would be more risky to hold.
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13622 is a definitive sell if we hit that, great short opportunity.
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12355, very likely to hit, safe profit taking. 12774, good chance to hit, above try to trade with only remaining 30-40% if you aim for higher tp. 13165, getting risky here for holding larger long. 13646, bull is strong, but also very likely to retrace here, ideal profit taking and spot to open a short.
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Nearing our 38.2% fib!
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Bounce time! Short closing here!
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We hit our 29.5% support angle! It's very possible we bottom here.
Operación activa
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Looks like we could be aiming for 10600 on 1.236 vertical time retracement.
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TP1 9750 / TP 2 10600
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We finally broke 9k resistance! I think we will find our top at 18 or 23 February
Hi Trex, How do you do your time targets? Is it the fib time zone tool?
Timothie_Roggers
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Professor Trex. I remember you saying you thought that we will experience a multi-month bear market. As somebody who is sitting in USDT at the moment I am intrigued as to what price level BTC will theoretically eventually hit?
I feel like full on panic and capitulation has yet to come.