What up traders? So now we are in bull status. I have been very tentative as of late and was waiting for a retrace a lot earlier, but now it's like I can see the future! I feel I finally have a grasp as to
where this bitch might be going. I had drawn a pitchfork about a month ago when we hit $117 hoping it would have some future significance and boy does it. I strongly believe that we will
retrace to the .5 fib level around $237-$242ish where we will get a bounce and then finish our wave 5. It also could be the start of alt season. Let's use our last run up to $14k with BTC.
When we were rejected at 14k BTC went the .618 almost to the tee. At the same time Ethereum stopped at .382. Now the role's have completely reversed. It's actually quite amazing to watch. It gives us
a little bit of a road map where both might be going on both coins. Bitcoin dominance is very low right now. BTC is on its way to .5 fib level and ETH is on it's way down to the .5 fib level. WOW!!!
I will be watching this closely to see if I'm right and most likely sell my ETH into BTC shortly. As you can see on my chart, the .5 fib level lines up directly with my pitchfork which was drawn from
our swing low of $83 up to our swing high at $362 and down again to our swing low of $117. It's actually a work of art if these 2 meet. Well that's my 2 cents. I'm gonna go and ice my arm. It's killing me
from patting myself on the back. If I'm wrong than who fucking cares!! Set your fucking stop losses. I feel good about this one though!! Later traders!!
Comment:
Boooya!!! We hit our target to the tee, .5 fib level. For those who followed my idea, koodoos to you all. I will be looking for some bullish momentum to retest the 275 region. It is at that point where we will be able to tell if a major reversal is coming or if we break through and head up to the .786 fib level. My Elliott wave count shows that this was a wave 4 retracement and I believe we have a wave five coming. There is a chance that we have finished our five waves up. If I’m wrong on the fact that this was a wave four retracement and was really wave 1 down, I’m still looking to retest the $275 region which would be a wave 2 up to the .618 - .786 from our swing high of $286 to our swing low of $239. Best of luck everyone, I will be posting more ideas soon. If this idea was helpful, please hit the like button. Thanks