If we go full on bearish (which is hard to believe with all the support and push up), I plotted 3 points of interest when touring Bearville. Elliot Wave would tell us we are nearing a wave 4 down and an ABC correction of grand magnitude on the daily. RSI is tickling overbought and reaching lower lows with every dip, MFI on 3hr is overbought, everything points to 3400-3500s in good time, I don't know how many more signs we could have. But when you print money, you control it...for now.
Still feeling relatively flat today and tomorrow. What it feels like is a very structured selloff to get the highest price possible without tanking things and causing panic.
My predictions for next two days are:
1-14-21 3802
1-15-21 3807
That being said, we could blast off towards 4K in a crazy pump and dump and/or low-volume maddness. I would stay out for now unless we go so insanely high that it is appropriate to open a short for tomorrow's OPEX dump until noon. At that point, maybe open a very short term long (like end of day ha) depending on where we are, or just stay out.
@FibonacciDiPisa, if it wasn’t for you we wouldn’t have retracement levels and extensions :)
FibonacciDiPisa
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@Investroyllc, question is, if nature and mathematics hadn't show me those principles, would the results still be the same...do we naturally follow the code, or does the code apply because we agree to follow it...chicken or egg I would say :)
Investroy
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@FibonacciDiPisa according to John Locke and his tabula rasa idea, we’re all coming to this world as a white blanket following the socio-cultural surroundings. As per me, I get heavily inspired by nature and always prefer to look for the code within things.
FibonacciDiPisa
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@Investroyllc, amen on that, nature holds it all because it must inherently!
Investroy
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@FibonacciDiPisa, Thanks for an interesting conversation, my friend!