WEll, I am in Guatemala doing a visa run. The laptop is in the shop, so, I guess we are seeing what we can accomplish from the IPad, No where near as easy, so please excuse this rough sketch and interpretation of the conversations I have been having with a few other analysts as of late.
There is a few thoughts that we will see more of a corrective phase, the real argument comes into question when we ponder weather or not this is a 4th wave consolidation or the end of our previous 5th wave. This is one of the downsides to Elliot wave theory, it is based of fractal mathematics and subjective in its nature as to where we are in the count.
If this is a 4th wave consolidation, this could have us awkwardly dip around between the $8000 -$12000(ish) area for the next week or two, if we break below that $8k region it would invalidate the count and have us at the fifth completed which would bring us lower, if, on the other hand this is a 4th wave and we stay above that trend line, we will consolidate, till it feels awkward, than there could be heavy momentum upwards of $30k -
Bitcoin has not yet give us enough data to decide, but there are two, very clear paths, either we break below 8k or we don’t. If we don’t, It’s not the table as a 4th wave and we could see another energetic wave upwards past ATH-
This should take another week of a complex consolidation of ABCDE corrective, we are about to find out, either way, I have the fiat canon loaded to fire.
I would love to hear your thoughts and input
Tijo-
There is a few thoughts that we will see more of a corrective phase, the real argument comes into question when we ponder weather or not this is a 4th wave consolidation or the end of our previous 5th wave. This is one of the downsides to Elliot wave theory, it is based of fractal mathematics and subjective in its nature as to where we are in the count.
If this is a 4th wave consolidation, this could have us awkwardly dip around between the $8000 -$12000(ish) area for the next week or two, if we break below that $8k region it would invalidate the count and have us at the fifth completed which would bring us lower, if, on the other hand this is a 4th wave and we stay above that trend line, we will consolidate, till it feels awkward, than there could be heavy momentum upwards of $30k -
Bitcoin has not yet give us enough data to decide, but there are two, very clear paths, either we break below 8k or we don’t. If we don’t, It’s not the table as a 4th wave and we could see another energetic wave upwards past ATH-
This should take another week of a complex consolidation of ABCDE corrective, we are about to find out, either way, I have the fiat canon loaded to fire.
I would love to hear your thoughts and input
Tijo-
Arcane Bear Founder- Tijo
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Join our private community of professional traders and investors :==>> www.arcanebear.com/private
www.youtube.com/arcanebear