Not too much talk math here…you normally do better than this. Trend is down and no sign of strength. Everything you said confirmed another leg down probably 2. After the 12345 wave I see another abc forming and my target from June according to Fibonacci is 8800 for a bottom. 17 won’t be broke but it is was better believe I’m loading up all shorts on alts again revise they always take the beat down when the wave collapses. I’ll send you a chart on the volume. It’s my area of expertise. Volume tells the true story behind smart money concepts.
AlanSantana
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@FLASHGORDON10, Please send... I like to read volume also.
I don't see how everything I said leads to another drop but the bullish divergence and lowering bear volume are signals in favor of the bulls.
Thnacks
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So are you saying the price will be going to test the 1.618 fib or is there a 5 wave move to the upside?
Also how do you determine the 5 wave move?
AlanSantana
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@Thnacks, A 5th wave of the bearish impulse that started in November 2021.
There is potential for a strong bounce now but the final target is not clear to me at this point. The analysis main message is about the potential bullish wave that is about to show up.
Thnacks
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@AlanSantana, So more or less a relief rally to around 30 then another leg down?
@Thnacks, My pleasure. I am always around just in case you want to chat some more...
Thanks for your support.
Namaste.
day0
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my timeline is Q1 & Q2 is bear and Q3 & Q4 is slightly bull. (both most stocks & BTC)
AlanSantana
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@day0, That sounds good, I think its probable but Q1 some sort of bullish action expected here... Q1 slightly bullish, Q2 bearish and the same for Q3/4.
We are looking for a bottom around June/July 2023 for the stocks. Bitcoin obviously a few months earlier.