...we stand a chance of seeing consolidation on a red "Weekly" candle. This is according to my FIB RT to 1.618 seen to the far right on the Weekly TF.
I would like to give a word of "caution..."
If Bitcoin continues to run bullish up to $1,276 "AND" DASHUSD remains in the $28.50 to $29.50 range, don't be surprised if DASHUSD has a red consolidation candle on this current Weekly candle we are working on. If that occurs, we could see a drop to approximately $23.70 before we continue with more consecutive green weekly candles.
I would like to give a word of "caution..."
If Bitcoin continues to run bullish up to $1,276 "AND" DASHUSD remains in the $28.50 to $29.50 range, don't be surprised if DASHUSD has a red consolidation candle on this current Weekly candle we are working on. If that occurs, we could see a drop to approximately $23.70 before we continue with more consecutive green weekly candles.
Uwaga
I'm posting this 2h TF chart simply for future reference and to show we did in fact have a consolidation move around the $33.00 mark before continuing upward. The weekly chart I posted as the "cover page" is not able to reveal the price action I mentioned would come around the $33 mark.Uwaga
Looks like next consolidation point will be approximately $44.80:6h TF:
Uwaga
Another view to allow one to see why I'm saying $44.80 at my original "Base Line Reference FIB" I call it. It is my belief, when a coin is on a bull run after the creation of a handle that we have consolidation events at each of the ".618 FIB's." Meaning, the 1.618, 2.618, 3.618 and 4.618. The 4.618 being the location of a "major" consolidation point. Again, this is a theory of mine to see if it holds true in this case.Uwaga
That Base Line Reference FIB with it's values is located to the far left (the values are).Uwaga
"0" (Base Line) for the far left FIB was found in the 4h TF even though you see the Daily TF at present: Uwaga
Also, I meant to say, 4.236 for the top FIB. I got stuck on .618. Sorry about that. Anyway, it's my belief our next major consolidation is at the 4.236 FIB on this handle which is the $44.80 price point.Uwaga
We are getting closer to the 4.236 FIB at $51.91. WOW!!!Looks like it blew past my $44.80 price point with no fear. This baby is going parabolic. WOW !!!
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