Hello!
So i have been nervous since the 420@420on420 peak.... could this be triggering a bigger sell off and loss of confidence in our favorite young crypto?
So after letting a. Few harmonic cycles develop and reveal themselves, it seems that we are in the situation shown in white. The red arrows seem to correlate, as points where the previous resistance was tested as support. This trace is from that cycle, stretched to match the most recent major movement in the cycle, in order to provide the most accurate short range forecast. We would also stretch it to match the most major segment of the cycle, if we wanted to see a longer range forecast.
If this pattern retests and breaks the red line, the next resistance turned support is possibly this blue line. The arrow is where these support levels intersect... that could be a powerful node in the matrix...?
Good Luck!
So i have been nervous since the 420@420on420 peak.... could this be triggering a bigger sell off and loss of confidence in our favorite young crypto?
So after letting a. Few harmonic cycles develop and reveal themselves, it seems that we are in the situation shown in white. The red arrows seem to correlate, as points where the previous resistance was tested as support. This trace is from that cycle, stretched to match the most recent major movement in the cycle, in order to provide the most accurate short range forecast. We would also stretch it to match the most major segment of the cycle, if we wanted to see a longer range forecast.
If this pattern retests and breaks the red line, the next resistance turned support is possibly this blue line. The arrow is where these support levels intersect... that could be a powerful node in the matrix...?
Good Luck!
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