Monday 9th May 2022

The ascending channel is still in play

In this current bear, this is the second time it has tapped the bottom of this channel, so it could be getting ready to spring board up

But with all the uncertainty around at the moment, there could be some more downside, with wicks down to the next lower fib curve at $42,328.

So long as closes are above the bottom of the channel, we should see some upside and a test back up tot he 33 day MA and the downward yellow dashed trend line .

Approximately 24th June 2022 (24/06/2022 – 666) we could see a break up.

The bottom of the ascending channel and the yellow dashed descending trend line converge here.

Or this could be the sign of the break down further and final shake out of all the weak hands before the next grind up out of here, for the full parabolic move on the logarithmic growth curve we have been waiting for.

All MA’s are tipping further down

MACD has some more downside to go before reversing

Price and volume oscillator has just triggered and oversold green signal, and has hit the bottom purple band indicating a bottom is in. From here, we could see a bounce into the middle of the ascending channel where the 88 and 147 day MA’s are at ~ $$56,087 to $64,816.

Further downside could be located at the $33,689 TD Risk Level.

Tuesday 10th May 2022

The ascending channel is still in play

We have had a wick down to $43,607, but the body of the candle is still within the channel.

But, we are still only on a TD 3 count, so still early days.

If the channel gets broken, then next two Fibb channels are target buys.