I believe we won't be seeing a major shot in the arm to burst back to 20k, but I do think after a few months we will be primed and ready and the whales will have accumulated all they need for the next push to 35k-50k.
Comment
⋅
To update this idea... We did got quite a bit lower after hitting the 200 SMA the first time. This wasn't a big deal if you were trading on the larger time frames waiting for what seems to be the first big bounce since the $6,000 low.
I plan to stay in a LONG SPOT position for a week or two up to the red SELL zone and any margin positions I take on will be with a long bias.
Trade active
⋅
The first stop of my initial idea I believe has been reached. We might see some sideways action or maybe even a little more up to touch the actual ATH Trend Line.
The below chart is showing the expected move to complete the original idea down to $7,700 based on some missed Weekly Pivot lines. This is a sometimes unusual way to see what Pivot lines were untouched by price previously and trade back to that price level in the future.
Comment
⋅
There was another touch of the ATH trendline from 20k that came back on the Hourly chart. If this fractal continues to play out this could be the last high we could see for a while.
Comment
⋅
I know it is a bit stretching and squishing of the fractal, but I wanted to just count the tops and bottoms and see where we end up.
Comment
⋅
We are in a falling wedge pattern and need to wait for a launch leading out the top side of the wedge. If you like waiting for confirmation... then look for a slight pull back on the smaller time frames like 15m or 1 hour, but I think when this thing takes off it will be like the ORANGE candles in the idea where it is going straight up.
You ever heard of the power of influence through Music. Pump it up , Pump it up , you love the attention huh. Well where are you now ? Hiding away like a little bitch.
@AlekseyYanchevsky, yeah looks like it could go for a double bottom.
MarcosPaez
⋅
you are crazy
Bonavest
⋅
@MarcosPaez, I'll take crazy ... with all the profits. How you doing?
ckaty
⋅
@Bonavest Be careful man. Its a perfect bull trap. Plebs are goin full fomo mode in 9-10k range and getting slaughtered from there all the way down. But then again u trade on a very long timeframe so u'll be fine))