I charted before my perception of why the reversal at 6.4k caused so much confusion and why shorts were liquidated. I have here 3 potential alternatives in this chart. One is a replication more or less of the last reversal formation with a wave dropping lower (red circle) and us replicating the blue circle there after and preparing for a surprise dump, finding support above recent low and a motive up from there for the rest of 2018. The two lower targets are potential areas of interest for the completion of an actual ending diagonal and the official end of the intermediate wave 4 correction of this primary. Those targets would allow for strong daily bullish divergence, a retest of support lows, and potentially even divergence in 1 week time oscillators as well. Just some ideas for the big picture I'm awaiting further indication of before a move up which I still have every reason to expect while analyzing the overall trend through the eyes of Elliot Wave Theory. I've remained open to the idea of a low above $5,750 for a long time without seeing enough evidence to believe it likely. I now see potential evidence that's possible and am finally open to the idea.
I need to be 100% clear, these are rather abstract ideas of potential as noone has any idea what is actually happening in price action right now. I'm simply awaiting the right signals to see how it plays out, free of panic or emotions.
Hope this helps. Enjoy!
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Here are my observations which allow me to remain open to the alternative with more up and less low shorter term
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Not sure why that chart isn't displaying...
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lastly, I apparently missed the box representing a low of an even bottom with Feb.
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And for more clarity, The scenarios I just explained are what I had envisioned when I charted this TA and the corresponding description for the yellow "caution" zone. Again, not saying this will be the case, simple suggesting a growing potential by my perception of the indicators at this time while remaining bullish. for 2018