I've been a bull all year and that has paid dividends. Now is the time where I'm cautious. Mostly because of the structure.
I can see some upside in the next 24-48 hours, but then I believe we're going to see a little downside going into Valentines Day. No, I'm not talking about a nose dive into the $5k region. I'm just talking about a move potentially down to about $21k. It may not even go down that far. For a wave 4, typically we see a move down to the 38.2% but in a strong market, only the 23.6% may be achieved.
Either way, I still see more upside going into 2023 with some choppy waves coming in the short term.
In case you're curious, the horizontal lines all have confluence with significant pivot zones in the 2022 history.
The wave master pro indicator is showing signs of a potential move up, but things are warning pretty good that we're going to see a little pullback. Signs of green give indication that we should see a bump up short term, and thats what we are seeing right now.
Sellers create new highs. Don't forget this.
I can see some upside in the next 24-48 hours, but then I believe we're going to see a little downside going into Valentines Day. No, I'm not talking about a nose dive into the $5k region. I'm just talking about a move potentially down to about $21k. It may not even go down that far. For a wave 4, typically we see a move down to the 38.2% but in a strong market, only the 23.6% may be achieved.
Either way, I still see more upside going into 2023 with some choppy waves coming in the short term.
In case you're curious, the horizontal lines all have confluence with significant pivot zones in the 2022 history.
The wave master pro indicator is showing signs of a potential move up, but things are warning pretty good that we're going to see a little pullback. Signs of green give indication that we should see a bump up short term, and thats what we are seeing right now.
Sellers create new highs. Don't forget this.