I am 90% convinced that the bull run is near. The upper green trend line that begins on August 2nd has dictated the upper limits of the price movement for the past 2 weeks. What we see today is a definitive break of that upper trend line which convincingly shows that positive momentum is setting in... possibly for good. Looking at the stochastic, I think the correction that happens next will dictate the timing of the next REAL major move upward. I'm looking to see what happens if the price settles back to the descending upper trend line. If price respects that line, this might be the last chance to stuff your bags before the strong move takes place.
We BARELY broke the level of the previous high on August 2nd, so it's safe to call this current move a "higher high". After the stochastic completes the cycle back into the neutral zone, I'm looking for a possible pivot at the Light Red 2.618 fib circle boundary. Take note that the price line is set to hit the 2.618 ring within the "Quadrant 1" portion of the circle. In the past, I've noticed that price tends to pump when crossing the first quadrant of a circle. I'll shoot a video on this and explain this concept if you have never heard my description before.
Once this mini move completes, I'm going to start searching for the next magical fib circle set that will help us predict possible pivot points as we move forward. Let's cross our fingers and hope this plays out. Please read my previous commentary on Bitcoin for my insight on how the stock market and the strength of the dollar could affect the overall crypto market. As always, this ain't no financial advice. I'm just calling the action like I see it!
Carlton Flowers
The CryptoPro
We BARELY broke the level of the previous high on August 2nd, so it's safe to call this current move a "higher high". After the stochastic completes the cycle back into the neutral zone, I'm looking for a possible pivot at the Light Red 2.618 fib circle boundary. Take note that the price line is set to hit the 2.618 ring within the "Quadrant 1" portion of the circle. In the past, I've noticed that price tends to pump when crossing the first quadrant of a circle. I'll shoot a video on this and explain this concept if you have never heard my description before.
Once this mini move completes, I'm going to start searching for the next magical fib circle set that will help us predict possible pivot points as we move forward. Let's cross our fingers and hope this plays out. Please read my previous commentary on Bitcoin for my insight on how the stock market and the strength of the dollar could affect the overall crypto market. As always, this ain't no financial advice. I'm just calling the action like I see it!
Carlton Flowers
The CryptoPro