Really like your videos, thanks for taking the time. The trend is now broken and looks like it will close on the day. I'm watching for retrace and support on the down trend now before entering. I have been mulling this one over and if I was a whale, i would be looking to push this with a little extra energy, before coming back down. It will be interesting indeed to see where it ends up settling, personally I am not 100% bullish in the next month or two, I think it will head lower, potentially after a double top within the 3rd wave up
Looking at the RSI levels back in June 2016, minus the 5 wave Elliot wave pattern from December to Early February, the scenarios in this crash are very similar to the 2018 Crash, just longer because Elliot waves predict the cycles of the masses which Bitcoin experienced mass public attention from in 2018. I think we are looking bullish after a few weeks of consolidation then we go back up to 12K, and beyond.
ParagonVenture
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@matttewell, good point, im still undecided what will happen next and looking at both scenarios. i will load up on fib retracements now again but i wont add anymore fiat. saving fiat for 3-4k scenerio. if it will not happen in next month or 2 its ok, ill be in a game anyways. if there will be buying opportunity around 3-4k im going all in with my saving accounts
maxblockm
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Looks like with $8850 price we peeked out of the yellow resistance line instead of retracing as discussed in video around 8:00-10:00, meaning the bull run is likely commencing?
ParagonVenture
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@maxblockm, yes we did ! past throu yellow line and thats awesome ! however,
- RSI and Volume is not looking to good
- daily candles on top looks bad with rejections
- We have finished 5 wave structure.
Im expecting retrace to around 8.5-8.3 levels, we will test yellow line again, if it will act as support that will be very bullish and expect nice gains for next 2 weeks!