This was a little too fast for an organic rally, and the correction was expected for a while. The price tried to breakthrough 0.786 fib retracement (from 20k to 3k) and failed twice, creating a double top
RSI is at the same level (red arrow) in 2016 where there was a 40% correction
The weekly red candles at this level is not a positive sign, even RSI has tapped overbought (80) sign twice (red arrows)
I posted a daily chart saying that either 5th wave is done or almost done. Most people are thinking there is still juice left in this 300+% rally. Do you want the left our juice or the meat of the rally?
RSI is at the same level (red arrow) in 2016 where there was a 40% correction
The weekly red candles at this level is not a positive sign, even RSI has tapped overbought (80) sign twice (red arrows)
I posted a daily chart saying that either 5th wave is done or almost done. Most people are thinking there is still juice left in this 300+% rally. Do you want the left our juice or the meat of the rally?
Comment:
We got the red candle on the monthly as er the original idea
Comment:
Another red candle
Comment:
Expecting 2 more weeks
Comment:
2 weeks turned to 4 weeks, will October be a green candle?
The weekly doesn't look good, I would think a 50% correction is more appropriate
Lost the 9k green support line
Lost the 20 Weekly MA
Weekly RSI dropped below
The weekly doesn't look good, I would think a 50% correction is more appropriate
Lost the 9k green support line
Lost the 20 Weekly MA
Weekly RSI dropped below
Makes sense on the assumption IF this is the 4th subwave as per the original idea