I keep seeing bullish ideas pop up on my screen all day today, and have no idea what all you people are smoking..
The failed bull run was likely an abc correction of the continued downward momentum, so we have finished wave 1, and have seen a small bounce for wave 2, which I fully expect to be followed up by a sharp wave 3, down to the 4800 area, followed by a small wave 4 to test upper resistance, then a final fall down to 3.5k levels. This is where everyone wants to buy anyways, and we could potentially start another bull run from there.
Like a rock skipping across the lake, we have hit the water again, and eventually it's going to lose energy and sink.. all you guys dreaming up some fantasy bullish scenarios, well if we were going to have a bull run, we would not have just made a lower high and come back to skip again off the pond.
Buy back in after the stone has settled at the bottom.
The failed bull run was likely an abc correction of the continued downward momentum, so we have finished wave 1, and have seen a small bounce for wave 2, which I fully expect to be followed up by a sharp wave 3, down to the 4800 area, followed by a small wave 4 to test upper resistance, then a final fall down to 3.5k levels. This is where everyone wants to buy anyways, and we could potentially start another bull run from there.
Like a rock skipping across the lake, we have hit the water again, and eventually it's going to lose energy and sink.. all you guys dreaming up some fantasy bullish scenarios, well if we were going to have a bull run, we would not have just made a lower high and come back to skip again off the pond.
Buy back in after the stone has settled at the bottom.
Comment:
I would be taking profits here if you are long, and looking to buy back in around $4800 or so. So far, no updates necessary to the chart.