good morning everyone, pardon for not having any updates these last few days - had some technical difficulties with my pc, and just got it back today.
so, let's talk about my btc post from july:
i predicted a move up to around 50k back from the lows in july, and we're here right now.
the volume isn't getting any stronger, this move doesn't really look impulsive in my eyes - and if it's not an impulse, then it's there's only one other thing it can be; a correction.
i'm not convinced that wave 4 is in.
intuitively, and based off everything i've learned over these last few years - i've gotta stick by my original count in which we see another low before the real bull run begins.
maybe it won't be as sharp as i'm projecting, perhaps we see a massive triangle form before the drop into late 2022, but i do think we see that wave 4 target at (21.9k) get hit before any significant upside, despite how long it takes.
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stock market is about to see a major downfall in the days ahead, dxy is gearing up for a massive move to the upside - there's chaos in the streets, and the things aren't looking so hot in the real world right now.
feel like the stars are aligning for a major spike to the downside soon, just not sure when.
51~54k is the area i'll be layering in my shorts, with confidence.
best of luck to all, i might be passive for a few days unless i see some changes in the charts.
ps. i think 4655 is the top for ETH, and the ETHUSDSHORTS chart just keep rising to astronomical heights unlike i've ever seen before. ps.2 micro alts might go parabolic soon, swing them in the short term for some big gains - just don't forget to take profits & always make sure to keep an eye on btc.
Hi Elo, are you still majority in cash waiting for black swan like moment... please update moonshots like bttusd etc, when you see the time is right. Can you suggest any leveraged play that can go reverse like Vix to cash on stock market dip. TIA.
Eloquent
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@HHSPN, I don't have any money in the stock market, and I'm generally 90% cash in crypto. I use 10% of my funds to swing trade leveraged trades on btc generally.
I can't recommend any bear positions, but any inversed etfs could work. If spy opens green next week, I think some October 450~445 puts will do the job.
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Ps. There's a good chance then stock market sees a flat correction rather than a sharp one though, so keep this scenario in the back of your mind as well. If it does take the route of a flat, selling iron condors is the best strategy in a sideways market.