Short term - neutral to . Bitcoin looks like its not finished with correcting yet, cryptocurrencies have largely fallen off the normie radar and are taking a break (quick search on google trend https://trends.google.com/trends/explore?q=%2Fm%2F0vpj4_b,bitcoin) shows that normie interesting is starting to cool off, in preparation for the next bullrun.
long term -
Buy zone: 2 zones - 0.618 fib retracement: 0.00003690 - 0.00004190
- 0.718 fib retracement: 0.00002286 - 0.00002748
Sell zone: Only 2 in mind. I like mid term targets and dont worry about short term goals.
1) 0.00012000 - 0.00012500
2) 0.00017000 - 0.00017500
Me? I'm going to hold onto this for many years to come :)
Fundamentals: just has regular roadmap updates, They don't really offer timeframes as to when they complete stages in their development, but the closest one thus far looks to be the Ouroboros Staking protocol, which would allow holders to stake their coins. This would be massive progress for the coin in general and would serve to be a reasonable catalyst to catapult this coin up to the 1st target for 200% profits.
Technicals: has just completed its 1st 5 waves up of a supercycle up and is in a corrective phase right now. Currently riding between the 0.618 to 0.5 retracement levels right now. looks to be forming a 5-3-5 corrective pattern and in the C wave thereis almost alway 5 subwaves within that. Something i notice about cryptocurrencies is that they do like their extended 5th waves which leads to me to believe that may not be finished correcting yet and may see the 0.718 retracement region which is why I've provided 2 buy zones.
on the daily is approaching the zone of 30 and looks to be curling up ever so slightly. This shows the that is close to finishing its correction but that's definitely not to say that its out of the woods, because it most definitely isn't, there is still room to correct, but the room to correct is running out of space as we speak.
Using a conservative Fib Extension we target a little more than a 1-1 extension for the 1st target, because theory states that the 3rd wave is often the longest but never the shortest and 2nd target is derived from the final targeting just a little above the 1.618 region on fib extension.
I'm still learning TA, any advice on improving my analysis would be GREATLY appreciated. I welcome any criticisms and feedback.
So go ahead and grill me :)