I've been following this for a couple days. I couldn't wait any longer to post it. I have provided 3 invalidation points, some bonus targets and my overall expected path for this run. I expect a breakout somewhere around the 49.5 price range if we get a daily close above there it will confirm a very long and well coordinated beartrap that has been in play. That said I am bearish below 44k right now.
Things in play beyond charts right now:
-Another round of stimulus checks went out to millions of Americans on Wednesday this last week. -$200 Mil Options Expiry Friday, Corporate Quarterly disclosures. - ETF Applications seem to be piling up again and could drive FOMO in coming weeks. (Especially if approved or conversely, denied.)
Live long and prosper! 🖖
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Nothing changed, BTC followed the 3rd invalidation path right up to the point where I would have closed this out and then shot back up to the path we expected from the C&H prediction.
Right now, we are in invalidation mode... (If this holds out) with our most dramatic slope prediction. At this point I have pulled a good portion of alts and currently awaiting either a close above 44k or a dip below 39k before proceeding with the next phase of my strategy. It seems like its always best for the market to decide where it wants to go at these points and then apply the best course of action from there. Right now the trend favors downwards but I am also kind of getting that indication we had at 29k of bears punching bottom. They could push us as close as 39k before we get any real bounce upwards. However trend does favor down. If 39k does break I would expect a push well below 35k to around 31-34k.
Stay positive, stay patient. Trade what's in front of you or... don't. ;)
Stay positive, stay patient. Trade what's in front of you or... don't. ;)
Live long and prosper. 🖖
More updates to come...