ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

For the ONE44 Fibonacci rules and guidelines to help with this article, go here.

Charts are courtesy of Barchart.com

This is our latest video in an ongoing series of how to use the Fibonacci retracements. Even if you do not trade the market covered, the ONE44 rules and guidelines are the same, as we believe the Fibonacci retracements are the underlying structure of all markets.  
https://youtu.be/HEyLVbjvHDg

Cryptocurrencies

I would still like to see Bitcoin get down to the long term swing point at 43,600, as a base for the next leg up, however Ethereum and some of the other Crypto's have already come into key areas. Below is the stock Coinbase Global Inc. (COIN), it is also at a key level.


COIN

Going back to the high on 8/11/21 that was 38.2% back to the ATH, you should have been looking for new lows following the ONE44 Fibonacci rules and Guidelines. The first setback from there hit 61.8% on 8/19/21 and then rallied to 78.6% on 9/3/21. The break from there took it to 78.6% on 9/29/21 at 226.00. Two things came into play here, first not making a new low after hitting 38.2% on 8/11/21 should send it to 61.8% of the same move and this was 345.00. The second thing was it hit 78.6% and as I have mentioned before this is where a lot of Bull runs start and end. The sharp rally from there took it to 61.8% target and more. Once back below 345.00 the first setback held 38.2% at 306.00 (one close below), however the rally from there could only get 38.2% back on 11/20/21. It is not a good sign when 38.2% of a smaller move stops a rally from a much bigger range and the break from there took it to just above 78.6% at 243.00 on 12/6/21. The rally from there fell just short of 38.2% at 292.00 on 9/7/21 keeping the short term trend negative and it is now back at the 78.6% level.


The target on a rally from here should take it 78.6% back at 342.00 and the fact that it already reacted from 38.2% the next target will be 61.8% at 323.00 based on the 38.2% rule. This would also be true if it were to make a slightly lower low and close above the previous low. Failing to turn higher from this area should send it to new lows and then 161.75.

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FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.