Cavedrew

Cavedrew Oct 17, 2024

Back in October 2021 I attempted to project a fibonacci ration that would predict the top of the current market cycle from the bottom of the 2008/2009 crash. I used smaller fibonacci rations such as the 236 and 146 to identify where a fibonacci from the top would end up. The result was approximately 5814. We passed this level this week and there is weakness...

Cavedrew Updated  Jan 27, 2023

The Wave III target was reached and exceeded for BITSTAMP:BTCUSD from my previous idea included in link. Now expecting Wave IV between ~21,350 to ~20k based on Wave IV being approx. half of Wave II and Wave V from ~20k targetting anywhere from ~22,500 to ~23,350. Buy levels for Wave IV are ~19,950 and ~19,100 with S/L just below 18,400 . These positions will...

Cavedrew Updated  Jan 22, 2023

Bitcoin is coming back down to test the bounce breakout area. Short term bullish sentiment is challenging and retesting the long term bearish sentiment. Fib levels indicate 2 likely areas to bounce from: 20109 and 18892. I’m leaning towards the 20109 level for a high R/R based on a 0.618 fib level from the 17737 support to the 23800 minor breakdown level....

Cavedrew Updated  Jan 14, 2023

Bullish continuation for D1 through W1 on BTCUSD after confirming the higher high on the D1 timeframe from late December. W1 timeframe showing promise to close near the late November weekly high, confirming the higher low from mid November and continuing up towards 20,000 with a stop loss around 16,250. Entry at ~17,000 should have a good Return to Risk ratio of...