Word to the wise brother, we are just about to enter the downside into the 2nd leg of a MAJOR parabolic up wave that will ultimately push us past 14k... We just have to correct first to possibly around 8k. Then BUY like your future depended on it
ByronGregoriadis
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@zk8619, No doubt dude. Are most of your investments in crypto?
Ive recently been playing the forex market too since BTC and alts have either been either going sideways or slaughtered.
The huge breakouts alts just got also give me a very clear signal that BTC is about to make a major drop.
Gotta make money somehow when volatility is basically zero in BTC. But I think volatility is about to be back again here soon.
Wait for the next break up before entering your short. We should hit somewhere around 10,600 maybe a tad higher, before the push down to impulse down to leg 2 of the parabolic wave up.
I’ll put it this way.... Once we hit correction to wave 2, we will BLOW past even 21k... it will be a massive parabolic run.
GrantPeace
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@zk8619, Why do you think it will go down before it just continues upwards?
Zulu_Kilo
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@GrantPeace, Do a little research on Elliot Waves so you understand what I’m about to say.
In the bigger picture, we are in a 12345 impulse up which 14k was the first leg up.
Wave two (which we are about to be in) always corrects down to anywhere between .382 to 0.618 of the first leg up. From there, leg 3 up is usually the longest and strongest in the series we are currently inside wave 3 from the 21k starting point (which was wave 1). Wave two was the slide back to 3k and weave three is not finished yet...
But essentially we are a sub wave within a wave up that has to correct first before price go up again.