Good morning, I have waited awhile to make this post, and i'm finally ready to release it.
This is an update to my previous prediction when we were near the peak of the November move via π
Have done a video on this exact count awhile back nicknamed "The Genesis Count" talking about my reasoning behind all of these targets in very much depth.
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In this idea, I am portraying what is called a "running flat". -A running flat is a very bullish move in the market which generally appears in a wave 4, but could appear in other moves as well (it is counted as a 3-3-5, and never anything else).
What we've been playing out since February of 2022 has been some sort of flat corrective phase of a higher degree, and it wasn't until earlier this week that we've confirmed it was a running flat. This is also why Bitcoins moves haven't been clean, but rather very choppy\corrective and low volume by nature.
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I am projecting a bottom closer to 37.5k by 1\17\22, which will mark the day of the "Wolves Full Moon"; it happens once a year and is a very bullish signal in our markets. The bottom could very well have been put in yesterday, but something tells me we are going to see one final capitulatory event before beginning π»ππ π¨πππππππππ.
Hey Elo .. thanks for this insight .. appreciate you sharing your ideas!
benwenharvic
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Elo sir can you give updates about DXY and BTC.D? DXY is currently having rejection from the multi year trend that you analyze.
Eloquent
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@benwenharvic, looking for a descent to around $86 by end of year ~
hngng_anhs
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@Eloquent, this would work for gold to start on its wave 5 soon
benwenharvic
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@Eloquent this should be another post on your idea! Your DXY call on that multi year line was awsome!
PerpXBT
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elo is a legend we do not deserve but we need
ferGOD
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Fortune Favors the Brave - Yet another sign that a mania is mature.
Hyperbole is a useful word to know. Meaning, βexaggerated statements or claims not meant to be taken literally,β an example would be something like, βThat cat is the size of an elephant!.β Hyperbole is used when we want to emphasize a point, mainly because of our conviction and belief in the subject being stated, and when we are very excited. Itβs no surprise, therefore, that hyperbolic language is found towards the end of manias...read more
Fortune Favors the Brave - Fifth wave (Ponzi scheme)
Bulls make money, bears make money, pigs get slaughtered. Remember, my goal is to stay in the game. The people who got wiped out by the crashes tended to be people who never took anything off the table, who never felt greedy, who got slaughtered by their own piggishness... read more
bed87
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Sell this shit now or keep longer?
ClearOpenDoor
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I'm giving serious thought to this idea. It makes sense on a lot of levels.
Still going to be wary of another potential UTAD once we clear 69k. If we fall back under it shortly after breaking up from it, that is going to be a huge red flag for me to instantly close my longs.
This being said... I'm actually more bullish if the mid-30s is on its way first. The accumulation before upthrust narrative has become so predominant that from a game theory perspective the market maker will have to scare everyone out of their minds one more time. That would give coins like Eth a chance for a full .618 retrace - which, for an asset as bullish as that one - representing 20% of market share now - should almost certainly allow for the next leg up to finally occur.
I say 'almost' because I would never give an absolute certainty as to an outcome. These are calculated bets we take, always.