Short and sweet.
Unless they pump more tether into the market between now and Feb 1st this is most likely what we'll see.
Look for support in the $7500-$8000 range.
Load up in the MOABZ. Then look and wait for Tether injections. If they don't inject and we break south of the 5-year log support the pattern is invalidated, I'll be forced to exit. If they do inject tether around March 1 buckle up, it's going mega!
You're welcome :)
Unless they pump more tether into the market between now and Feb 1st this is most likely what we'll see.
Look for support in the $7500-$8000 range.
Load up in the MOABZ. Then look and wait for Tether injections. If they don't inject and we break south of the 5-year log support the pattern is invalidated, I'll be forced to exit. If they do inject tether around March 1 buckle up, it's going mega!
You're welcome :)
Comment:
I do want to notice the very obvious bull-flag that bitcoin is printing. On the 1D and the 6H. This is showing the possibility of another surge. My initial prediction was for a surge to $10K-$11K, but the overall market weakness yesterday led me to believe otherwise (a ceiling at $9K). I'm looking at a potential break-out now, my long-term pattern still holds, but we may be on the verge of a 5th wave pump right now. Many alt's printing reversal hammers on the 6H as well. I'm watching....
Comment:
Not surprised. False break-out was.... false. Stayed out, kept all my gains. Waiting and watching for this pattern to play out. Aggregating all the capital that I can in case it goes as planned....
Trade active:
So my "5th wave" never came (see most recent chart). It appears the rally has completely broken down and this chart is the my now "most likely" scenario. Patience and observation is key here. I'd like to see BTC nestle into $8,000-$8,200 range for a week or three and accumulate there. If we keep 5-year log trend-line support (which we have for 5 years), we should bowl into uptrend, locking in the pattern. That, coupled with a Tether injection in a month or so, should send us to a big 3rd wave rally (2019 basically being Wave 1 & 2 (wave 1 apr -july, wave 2 july - november)), after that we go back into the teens. We shall see.
Trade active:
Also want to note, with the Chinese New Year starting tomorrow and the corona-virus outbreak I believe the markets will be eerily calm the next 2 weeks. A perfect time to accumulate as prices fall. BTC down to $8,200 or so (but notice the support between $8,000-$8,300, it's strong), and ETC I'd like to see around $7.50 (we'll see). Perfect lull to accumulate and watch for uptrend to start end of February....