At this point it is seeming like BTC and virtually all of crypto is going to break down here, along with global stock indexes, and we'll see a massive capitulation down to 23k by February.
This will likely be followed by a massive move upward as people rush into crypto to hedge inflationary pressures from the FED and congress, who will be printing and passing massive stimulus to attempt to save the stock market.
Inflation will likely remain very high for years while the stock market goes through a few years of stagnation (stagflation).
This will likely be followed by a massive move upward as people rush into crypto to hedge inflationary pressures from the FED and congress, who will be printing and passing massive stimulus to attempt to save the stock market.
Inflation will likely remain very high for years while the stock market goes through a few years of stagnation (stagflation).
Order cancelled:
At the moment I am still following my old count which indicates this may be wave-4.
The possibility that we have bottomed is increasing. If this breaks 47k then I would assume that we have bottomed and will begin climbing back towards 60k.
If it breaks 37k then I'd assume we'll see much lower prices.
The possibility that we have bottomed is increasing. If this breaks 47k then I would assume that we have bottomed and will begin climbing back towards 60k.
If it breaks 37k then I'd assume we'll see much lower prices.
Comment:
At the moment I am neutral/bearish, If my terminal impulse count works out this will probably go sideways for a couple of weeks and then get one more new low before we bottom out. That is my primary scenario.
Secondary scenario is a break of 37k and then a move down under 30k.
Tertiary scenario is a break of 47k and then a move over 60k.
We will have to wait and see which one plays out. Multiple possibilities tend to indicate we are in the MIDDLE of a pattern rather than the end, which makes the primary and secondary counts more likely.
Secondary scenario is a break of 37k and then a move down under 30k.
Tertiary scenario is a break of 47k and then a move over 60k.
We will have to wait and see which one plays out. Multiple possibilities tend to indicate we are in the MIDDLE of a pattern rather than the end, which makes the primary and secondary counts more likely.
Trade active:
Shorts are active again.
This has broken all bullish signals and is in total free fall right now, stock market also seems to be collapsing hard.
I suspect big liquidations in crypto happening soon.
23k still valid, maybe even 19k.
This has broken all bullish signals and is in total free fall right now, stock market also seems to be collapsing hard.
I suspect big liquidations in crypto happening soon.
23k still valid, maybe even 19k.
Trade closed manually:
Profit taken on the shorts, longs opened based on us bouncing off of 35k target from November 16th.
Comment:
This new count is next most likely target and so far price has been keeping up nicely with the trend projection.