Full Disclosure: I am in no way offering any investment advice in any form. I am not a professional. Some of my terms/wording may not make sense or follow the trading "lingo" standards. If there's something I've missed or incorrect about, please let me know. That way, I can learn from it. My technical analysis falls towards inline of a hobby and should be meant to be taken with a grain of salt.
Everyone is saying the bear trend is over and now were at the start of a bull run. I just don't see that based on my TA's. Historically, I've always seen 5 waves of movements involving large price changes in Bitcoin. Both the long and short wave trend all falls into Wave 3. It looks like we're on the rebound towards Wave 4 before the final correction will occur at Wave 5. Of course, all this speculation gets thrown out the window if this uptrend continues past the 50 day EMA. If that should happen, I'll re-evaluate and update my position as well. For now, it seems this is nothing but a waiting game.
Everyone is saying the bear trend is over and now were at the start of a bull run. I just don't see that based on my TA's. Historically, I've always seen 5 waves of movements involving large price changes in Bitcoin. Both the long and short wave trend all falls into Wave 3. It looks like we're on the rebound towards Wave 4 before the final correction will occur at Wave 5. Of course, all this speculation gets thrown out the window if this uptrend continues past the 50 day EMA. If that should happen, I'll re-evaluate and update my position as well. For now, it seems this is nothing but a waiting game.
Comment:
Updated TA located here:
