1. Last bearish divergences have taken the price down almost inmediatly.
Only the latest divergency (february), had an upwards extension before taking the price down.
2. Divergences took us down to the initial price from when the divergence started. This current divergence can take us down to 30k which is where the divergence started.
3. Currently we are in the 3rd peak of the current biggest divergence.
4. I dont know if it will have an extension before taking us down. So, we may go upwards before falling, or we can go straight down.
5. WE HAD SAME DIVERGENCES PATTERN ON 2017. READ LINKED IDEA.
Comment: We already touched the 3rd peak of the big divergence, which according to 2017 marks the Beggining of the 3rd smaller divergence. This may take us up to a price mark of 67k WITH A DIVERGENCE RSI PEAK, and that will be the CONFIRMATION for us going down to a price of aprox 41k or 30k before going bullish again.
Stay tunned
Trade closed: stop reached
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48k is the correct target.
2017 bigger divergence never took the price down to the price from when the divergence started, that rule applied only for the smaller divergences
Wonderful explanations very thought out and thank you for the resources you sent my way earlier.
You already know I'm prepared for the crash.
But alot of things are letting me know we are in a consoldiation phase as well.
As always appreciate you
@Legalizedhustler, My target was wrong. I was reading the ideas again today on desktop. Back in 2017 the price never got dragged back to the initial price from when the bigger divergence started, that rule only applied for the smaller divergences, the same happened back in september 2017.