As the title suggests, I wanted to zoom out and give everyone a clearer picture of the larger count. Clearly by the price action we're seeing, structure is still in its wave ((3)). Wave (2) & (4) appear to have alternation, which is very important in a healthy impulsive count. Looking at the daily MACD, it appears to be curling up for the start of this wave (5), and it made its high at the wave (3) peak as expected. This should allow us to move higher in (5) and carve a lower high on MACD.
This picture that price action is painting for us, coupled with the BTC ETF and other developments for Coinbase, I feel are very good omens for what is coming. Again, fundamentals/news are already baked into the equation with EWT, but that doesn't mean you can't use them to help validate or invalidate your thoughts on the count/structure. One thing I really like seeing, is when I predict where price is going to move, and then afterwards I see other analysts starting to come to the same conclusion/targets.
All this being said, my thesis stands. We have hit all the standard targets and could take off in (5) from here, or we could make one more slight low to the yellow box in my last post before raising. Price action in the micros suggests another low, but they can be deceiving, and the larger count is saying its ready for lift off. Time will tell, but if we make another low, I will load up on more shares and buy some calls.
This picture that price action is painting for us, coupled with the BTC ETF and other developments for Coinbase, I feel are very good omens for what is coming. Again, fundamentals/news are already baked into the equation with EWT, but that doesn't mean you can't use them to help validate or invalidate your thoughts on the count/structure. One thing I really like seeing, is when I predict where price is going to move, and then afterwards I see other analysts starting to come to the same conclusion/targets.
All this being said, my thesis stands. We have hit all the standard targets and could take off in (5) from here, or we could make one more slight low to the yellow box in my last post before raising. Price action in the micros suggests another low, but they can be deceiving, and the larger count is saying its ready for lift off. Time will tell, but if we make another low, I will load up on more shares and buy some calls.
Comment:
We have entered my alt box. I have said in my last couple posts I felt this the more likely path for price to take.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
