My oh my where have the bulls gone? It seems like it was only a few days ago that everyone (and their grandma)
was hyperventilatingly long. We've been warning since early November (www.tradingview.com/...-warning-signs-GTFO/)
that BTC, and cryptos in general, were overdue for perhaps a quite significant correction. Indeed.
We are currently tracking two scenarios. One for each of you my bull/bear friends.
To start, the bullish scenario: we are currently in the A wave down of an eventual ABC correction that will take us to the
green trend line around ~52K. From there, if bullish, we should see a strong move higher in an aggressive 3rd wave to much higher levels.
For the bears, we could be completing a much more significant B wave top (large letters in green) that will be followed by
a new 'crypto winter' with a sharp C wave down to much lower levels.
was hyperventilatingly long. We've been warning since early November (www.tradingview.com/...-warning-signs-GTFO/)
that BTC, and cryptos in general, were overdue for perhaps a quite significant correction. Indeed.
We are currently tracking two scenarios. One for each of you my bull/bear friends.
To start, the bullish scenario: we are currently in the A wave down of an eventual ABC correction that will take us to the
green trend line around ~52K. From there, if bullish, we should see a strong move higher in an aggressive 3rd wave to much higher levels.
For the bears, we could be completing a much more significant B wave top (large letters in green) that will be followed by
a new 'crypto winter' with a sharp C wave down to much lower levels.
Comment:
Coming up to the trend like and following our prediction nicely. Bulls will need to step up here or things could get ugly.