In the previous idea (Part I) there was a strong indication that we might see prices move along the trajectories indicated in my charts and my levels were pretty close. I didn't expect the SPX (chart below) to hit the Honey Bucket as quickly as it did and the effects on Bitty aren't as profound as expected which indicates something propping the crypto giant up a bit. However, as the bulls try to squeeze the shorts out in order to mount some kind of relief rally, there's definitely enough bearish sentiment to keep the correction going. Personally if I were to long, I'd definitely DCA in and avoid an "all-in" approach.
Good luck my dudes!
Disclaimer : Not financial advice, DYOR
SPX -
Good luck my dudes!
Disclaimer : Not financial advice, DYOR
SPX -
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Bitty in the Honey Bucket my dudes . . as predicted. We "might" get a "V" bottom relief with SPX bounce off the 200, BUT, the inevitable 33/30K awaits. I've seen perma-bulls get rekt and slaughtered but bears just sleep and shrug off the dew.
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Look how Bitty just loves that upper channel of the "stick a fork in it".
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SPX . . looks like we really need some kind of rebound from the 200 EMA to give Bitty a chance, I won't hold my breath as it looks like the goobermint is taking a new "hands-off" approach to propping these ratchet indices up.
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Bounce . . fill gaps, take BTC and crypto up a bit . .
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except . . John Wick in the house now, and he brought his pencil
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We may get that bounce in the next sesh
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on the 4H, let's see if we get the Gartley to fill on the SPX, would provide "some" interim relief for BTC but it probably will be the last real solid opportunity for a short . .
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see SPX in previous frame . .
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Looks like the SPX got it's rebound on, good for Bitty . . until . .
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Interesting to see SPX rally with a disconnect on BTC here in the following two frames. SPX target met, BTC looks island top reversal-ish down with possible H$S top forming on the 4H