Friends, I hope your all having a Terrific Thursday! I have been watching the volatility in the crypto markets with you over the last couple of days. These are the Birth pains before we TOP, and begin our decent. I still have us topping at around $73K based on the Full Fib Ext, but we can't rule out a top price going marginally HIGHER, OR LOWER! The bottom line is that $BTC is in the 9th Inning of this Game, to coin a Baseball analogy. And while I know many would love for me to give you stratospheric price objectives, I simply do not see it in the charts.
A few things:
1) we have a bearish falling wedge,
2) the apex of this wedge comes in almost exactly at the 4.236 Fib Ext.
3) we have a lot of topping signals in legacy markets as well. It all adds up to a top soon.
For everyone worried if $Alts will moon, especially the ones I have detailed here multiple times, my answer is YES!!!. I have labeled the area of ultimate importance on this Inverted chart. Many coins will finish with $BTC, but many will actually top AFTER the $BTC top, especially coins like $XRP. The key here, is that when those coins reach out to their logical extensions, the TOP OF ALL CRYPTO will be in. The part we have to focus on is getting out before the C wave on $BTC begins. That fall will be swift and hard. For now, lets keep focused, and know that we are nearing key areas on the charts. Focus is paramount.
Remember: Bulls Make money, Bears make money, but Pigs get slaughtered. Have a plan, and if we smash higher than this conservative approach it wont hurt anyone. :)
A few things:
1) we have a bearish falling wedge,
2) the apex of this wedge comes in almost exactly at the 4.236 Fib Ext.
3) we have a lot of topping signals in legacy markets as well. It all adds up to a top soon.
For everyone worried if $Alts will moon, especially the ones I have detailed here multiple times, my answer is YES!!!. I have labeled the area of ultimate importance on this Inverted chart. Many coins will finish with $BTC, but many will actually top AFTER the $BTC top, especially coins like $XRP. The key here, is that when those coins reach out to their logical extensions, the TOP OF ALL CRYPTO will be in. The part we have to focus on is getting out before the C wave on $BTC begins. That fall will be swift and hard. For now, lets keep focused, and know that we are nearing key areas on the charts. Focus is paramount.
Remember: Bulls Make money, Bears make money, but Pigs get slaughtered. Have a plan, and if we smash higher than this conservative approach it wont hurt anyone. :)
JT