full credit to @pejman_zwin on this expanding diagonal idea.
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i'm a big fan of this scenario; here's why.
•december 4th is the new moon - historical sell signal in the crypto community.
•astrology + numerology play a big role in these markets, especially when it comes to dump sessions.
•sub-wave 4 target lines up with about 61k, which is the 100% extension of the recent move up from the local lows, in confluence with the expanding diagonal structure.
•expanding diagonals move in 3-3-3-3-3 - which would explain the unusual chop we're experiencing.
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keep an eye out for this possibility, and expect the unexpected closer to december 4th.
if this does play out,
downside target for the completion of wave 5 into wave 1\A of a higher degree would sit at about $50,000.
----
i'm a big fan of this scenario; here's why.
•december 4th is the new moon - historical sell signal in the crypto community.
•astrology + numerology play a big role in these markets, especially when it comes to dump sessions.
•sub-wave 4 target lines up with about 61k, which is the 100% extension of the recent move up from the local lows, in confluence with the expanding diagonal structure.
•expanding diagonals move in 3-3-3-3-3 - which would explain the unusual chop we're experiencing.
----
keep an eye out for this possibility, and expect the unexpected closer to december 4th.
if this does play out,
downside target for the completion of wave 5 into wave 1\A of a higher degree would sit at about $50,000.
Comment:
safe to say it has beguneth
Comment:
wyckoff would be a proud man :,)
Comment:
not sure how low we're going to go, or if we're even going to go anywhere, but im waiting for some buy signals from our system. will sit in mostly cash until it is confirmed.
possible the area overhead just flipped into resistance, and we'll start a slow \ choppy grind down.
possible the area overhead just flipped into resistance, and we'll start a slow \ choppy grind down.
Order cancelled:
this idea has been cancelled, view my new post ~
