OK Guys! Seems thing's are moving a little slower than the last TA I published so I guess this means BTC is about to eat dirt. Right?
Eh, Not likely as I can see it. OK so my last TA, I published an idea of the frequency a wave 4 correction cycle ends with the completion of C wave much higher than much of the rest of the wave in Bullish environments (of which we very much are in the big picture).
Prior to that TA, I suggested the potential of a "Contracting Triangle" correction as an alternative to mining farms moving onto more profitable ventures where we drop more now to move up more later and throughout the year. Depending on your perception of where BTC's actual significance to the Crypto sphere, the planet, and proliferation of Crypto as a whole actually rests in 2018 and beyond.
I tend to believe it's actually more important and in a shorter time span due to outside factors playing out in other markets and the Geopolitical situation at this time. As I noted before, the very most difficult part of Imagining scale is that when the scale gets larger, there are actually more sub waves within corrective cycles than there were before so targeting the most critical points of interest is a challenging feat!
Moving on, We've obtained more evidence in price action and oscillators to help us see the next potential moves. To start, I'd like to note my labeling of waves within the last TA and the rising wedge were outright wrong! Oh well, happens to everyone. That said, I still see a perfectly viable road map where the end of the correction ended this morning or within the next 24-48 hours. A move from here within the Ascending triangles outlined above and a move into the blue rising wedge would further support this idea. I've also outlined the potential for a different bullish route without falling to the pink trend line of liquidations. Additionally, a sub wave 1 and respective retrace to expected values of .786 or .618 and up would be largely helpful combined with bullish divergence to suggest a retest of the 200 MA on 1 day charts. This noted, Oscillators paint the potential for a couple different routes, depending on the next moves. Not surprising, it's the potential for More up, or more down! haha. I'm continuing to watch closely for these signals of bullish price action or signals of a break down from the support zone we're held rock solid strong despite the day dreaming of being mauled by the Boogie Bear! We all know what it looks like to tank. This certainly isn't it! After all, we haven't even broken a single strong support zone since our moves up. However, potential reassessment would be necessary under those conditions should it not return immediately back above.
Fortunately for me, the measurements and odd conditions of the move up from $6,400 allow me the objectivity view and not to presume it's an impulse wave up and I can comfortably navigate the market without costing myself a fortune of missed gains and contributing to a panic sell off just to be gobbled up by bigger fish than us while sprinkling flakes in the fish bowl begging for attention once again!
Happy trading everyone and be careful out there! Be advised though, this doesn't necessarily mean to sell either. That's for you to decide how it works for you. Holding on since the dip has been working GREAT for me!
Eh, Not likely as I can see it. OK so my last TA, I published an idea of the frequency a wave 4 correction cycle ends with the completion of C wave much higher than much of the rest of the wave in Bullish environments (of which we very much are in the big picture).
Prior to that TA, I suggested the potential of a "Contracting Triangle" correction as an alternative to mining farms moving onto more profitable ventures where we drop more now to move up more later and throughout the year. Depending on your perception of where BTC's actual significance to the Crypto sphere, the planet, and proliferation of Crypto as a whole actually rests in 2018 and beyond.
I tend to believe it's actually more important and in a shorter time span due to outside factors playing out in other markets and the Geopolitical situation at this time. As I noted before, the very most difficult part of Imagining scale is that when the scale gets larger, there are actually more sub waves within corrective cycles than there were before so targeting the most critical points of interest is a challenging feat!
Moving on, We've obtained more evidence in price action and oscillators to help us see the next potential moves. To start, I'd like to note my labeling of waves within the last TA and the rising wedge were outright wrong! Oh well, happens to everyone. That said, I still see a perfectly viable road map where the end of the correction ended this morning or within the next 24-48 hours. A move from here within the Ascending triangles outlined above and a move into the blue rising wedge would further support this idea. I've also outlined the potential for a different bullish route without falling to the pink trend line of liquidations. Additionally, a sub wave 1 and respective retrace to expected values of .786 or .618 and up would be largely helpful combined with bullish divergence to suggest a retest of the 200 MA on 1 day charts. This noted, Oscillators paint the potential for a couple different routes, depending on the next moves. Not surprising, it's the potential for More up, or more down! haha. I'm continuing to watch closely for these signals of bullish price action or signals of a break down from the support zone we're held rock solid strong despite the day dreaming of being mauled by the Boogie Bear! We all know what it looks like to tank. This certainly isn't it! After all, we haven't even broken a single strong support zone since our moves up. However, potential reassessment would be necessary under those conditions should it not return immediately back above.
Fortunately for me, the measurements and odd conditions of the move up from $6,400 allow me the objectivity view and not to presume it's an impulse wave up and I can comfortably navigate the market without costing myself a fortune of missed gains and contributing to a panic sell off just to be gobbled up by bigger fish than us while sprinkling flakes in the fish bowl begging for attention once again!
Happy trading everyone and be careful out there! Be advised though, this doesn't necessarily mean to sell either. That's for you to decide how it works for you. Holding on since the dip has been working GREAT for me!