When I made my last TA I counted that the last run up to 9,800 was the wave 5, however right now I am convinced (after finding it hard to count the recent rebound's waves) that we are wave 5 ending diagonal , better yet, a textbook truncated 5th ending diagonal. Either way, even if my last TA is correct and this one. They are both going down, they both have the same targets.
Now, if it goes up, hurr durr your TA is wrong raizu, well, take a look at the chart, it is suppose to go up one more time, and what if It didn't? well that's a very huge bearish sign for me because the selling pressure is too high we didn't even made a good intermediate wave up. However, ending diagonals tend to end in a fake out before going down so keep this in mind.
Though you may ask, why do I think that this is going to be truncated, the main reason for that is we went too high, too fast without any major corrections. This is a sign that we may be headed for that. 2nd, the 1st wave up of the ending diagonal just seems too small as well as the third as it forms a 3-3-3-3-3 pattern it just won't reach it.
Also, the next move up will be the intermediate wave 5, that is also the end of primary degree wave 5, and a cycle wave 1. We are going down hard, and what I mean by hard is that, cycle wave 2 targets need to be measured on fib levels of the cycle wave 1. Which ends up on what I have written on the chart itself.
So, does that mean that the alts will also go down? Sure it will. Have you noticed every-time $BTC falls? Even a little, alts panic sell and then rebuy if dip did not continue. That is engraved on the mind of many right now, maybe even bots are programmed that way since the market is heavily correlated to $BTC. Now then, what good alts to go to for you may ask? I don't have a PhD but from what I can say, $DGD and $HPB looks good. $LTC looks quite nice too since its being accumulated for the longest time now. If I were you, when we are near at out targets, I am going to look for the coins that fell the hardest since they will probably rise the quickest too, unless fundamentals says otherwise, remember what happened to $ETH? Me too!!!
Now, if it goes up, hurr durr your TA is wrong raizu, well, take a look at the chart, it is suppose to go up one more time, and what if It didn't? well that's a very huge bearish sign for me because the selling pressure is too high we didn't even made a good intermediate wave up. However, ending diagonals tend to end in a fake out before going down so keep this in mind.
Though you may ask, why do I think that this is going to be truncated, the main reason for that is we went too high, too fast without any major corrections. This is a sign that we may be headed for that. 2nd, the 1st wave up of the ending diagonal just seems too small as well as the third as it forms a 3-3-3-3-3 pattern it just won't reach it.
Also, the next move up will be the intermediate wave 5, that is also the end of primary degree wave 5, and a cycle wave 1. We are going down hard, and what I mean by hard is that, cycle wave 2 targets need to be measured on fib levels of the cycle wave 1. Which ends up on what I have written on the chart itself.
So, does that mean that the alts will also go down? Sure it will. Have you noticed every-time $BTC falls? Even a little, alts panic sell and then rebuy if dip did not continue. That is engraved on the mind of many right now, maybe even bots are programmed that way since the market is heavily correlated to $BTC. Now then, what good alts to go to for you may ask? I don't have a PhD but from what I can say, $DGD and $HPB looks good. $LTC looks quite nice too since its being accumulated for the longest time now. If I were you, when we are near at out targets, I am going to look for the coins that fell the hardest since they will probably rise the quickest too, unless fundamentals says otherwise, remember what happened to $ETH? Me too!!!
Comment:
Now I made a huge mistake (on purpose actually) on my last trade, I shorted @ 8,900 even though I knew that it will go back up to 9,200 (my thoughts at that time and TA). just to test the strength of my hands. Boy, did I made the stupidest decision of my life. Haven't closed that trade yet though.
Comment:
And yes, I am a crazy person.
