We are at the bullseye. If you short from here with a tight stop you have a great opp for profits! My stop is above 40k. See related idea for analysis.
@trytofeelpositive, thanks for your kind words and opposing analysis. The trend is your friend right? I'm playing the larger trend here. We haven't finished our double bottom yet, and this choppy waters don't feel right. We may hit a 1.618, but the 1:1 extension is about 41.5k. Unlikely to go past that without some serious bull volume and/or news. I expect another bottoming before we go up to retest the 200 day that sits at about 49k at the moment. It's a Bear Market Year imo. Bulls got their year last year. I hope I'm wrong, but all signs point to this scenario for at least a couple months if not quarters. Best of luck and I will give you a follow! :)
trytofeelpositive
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@Shadowfigure, yes, I am a swing trader and I trade only with the trend, as for me this is the year of the bull run and the end of the global wave (5), and the next year will already be bearish. share my global vision
Shadowfigure
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@trytofeelpositive, nice analysis. While one can hope you are right, my own count showed that 69k was either a wave 5 or an extended B wave and we are now in a C wave correction. It will be many months if not a year to see a new ATH, but when we do, the supercycle will allow much higher targets as we go into a super 3rd wave extension. that should be exciting times come 2023-2024. Good luck out there! Let's see how the weekend plays out! :)
trytofeelpositive
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@Shadowfigure, we grew and fell in zigzags, I'm more inclined towards a running triangle. My opinion is that this year we will update the ATH, and the year 23-24 will be bearish. Time will tell.
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