It's a little busy on my chart, but there's a lot going on... if you don't like lines and colors.. don't look at it then.
TC facing a lot of resistances and crossing points. It's time to take the right direction.
Descending parallel is like BTC's hometown.
Positive factors for a new cycle upwards:
* End of the yellow pennant
* Touched the side of this pennant and so the new trendline
* Completion of a normal ABC correction
* Exact same result as on Jan. 23th (hopefully not a finishing as on the Jan. 28th)
Negative factors:
* FUD :-)
TC facing a lot of resistances and crossing points. It's time to take the right direction.
Descending parallel is like BTC's hometown.
Positive factors for a new cycle upwards:
* End of the yellow pennant
* Touched the side of this pennant and so the new trendline
* Completion of a normal ABC correction
* Exact same result as on Jan. 23th (hopefully not a finishing as on the Jan. 28th)
Negative factors:
* FUD :-)
Comment:
BTC definitely tries to stay in that green ascending parallel, doing all the effort, as it has fallen out of my pennant ! tss.. shame on you.. As I said that crossing point at the descending and ascending parallel, will be a huge crucial turning point..and as it defines the neckline of a large inverted head & shoulders as well...
Let's say it's matchpoint, and tie break in the 4th set of the final of Wimbledon.. ace... and finish the point to make to make history, or out, and go for a fifth set...
Let's say it's matchpoint, and tie break in the 4th set of the final of Wimbledon.. ace... and finish the point to make to make history, or out, and go for a fifth set...
Comment:
Scenario still intact... correctional wave C came back to the negative 61.8 and my support at 9203, which moved the start of my progressive wave 1, but wave 2 almost remains the same. We should be at the beginning of my wave 3 right now as the break through this descending parallel is confirmed. It has been a little postponed as I thought it would have exposed itself within the orange circle, but that's negligible. The green dotted ascending parallel becomes wider as there is more support if you draw the bottom side more to the right.
In air traffic language: hold for bears on the runway... BTC-airbus 61.8 and clear for take-off... resistance ahead at 11000 altitude, small detour due to a north west side wind, lowering altitude to 10800 to catch the gulf-stream with a back-wind up to 14000 and with some hope for a clear sky... up to 15000 and switch to autopilot until destination.. stratosphere :-)