...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.
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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.
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Looks like next consolidation point will be approximately $44.80:
6h TF:
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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.
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That Base Line Reference FIB with it's values is located to the far left (the values are).
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"0" (Base Line) for the far left FIB was found in the 4h TF even though you see the Daily TF at present:
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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.
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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 !!!