Thought I would share my alternate count after the weak dump/follow through from the bears. In this scenario, we will assume the C of the final ABC
is not yet complete. BTC
and ETH dumped on cue yesterday after a fadeout high but the breakdown was ultimately rejected by the trend line
at 3925 which caused me to close my ETH short with an underwhelming 3 percent profit. Ultimately my end target for this bear market will remain the same at ~$1800 but I will continue to play the cards that are handed to me. It's important to not get too caught up in what you want the market to do and instead, let the market do what it will and react accordingly. If you stay vigilant you will always see the dealers hand before its too late to place your bets. In this scenario, our final target for the C wave will be 4400, which correlates with the last swing high before the ABC
and is also a 1:1 extension of the A wave. We also hit a perfect 1:1 extension on the final ABC
of the '14-15 bear market before capitulating. For my model of this I went ahead and pasted what followed after the ABC
was complete in '15 to visualize what should happen next if we go ahead and break this resistance and move up. I'll try to update my bias when some sort of confirmation comes along. Any breach of the bottom trend line
should be it for the bulls and any new highs made by Eth should signal the pump. If you guys haven't noticed, Eth has been a great leading indicator in pivotal moments like these. (180 will be my target for Eth if this is the route we go).