Divergence on the RSI 4 times! Usually after 3 there's no going back but sometimes with things like Bitcoin or apparently the Nasdaq, you can have more because of the FOMO.
We hit the 2.5-2.618 fib extension from the prior wave I cycle as shown.
I'm thinking we enter a complex wave 4 of larger cycle degree soon.
It's gonna be nasty and a lot of tech companies are gonna go bust.
But the bad money needs to be cleansed and the free market needs to decide who is allowed to stay in the game.
I'm looking for a 40-60% pullback. We will enter a bear market for the next year or two if this happens. I think we're nearly there.
I need a further breakdown of the RSI to confirm it, but if we keep selling off this week and it accelerates, remember this chart.
We hit the 2.5-2.618 fib extension from the prior wave I cycle as shown.
I'm thinking we enter a complex wave 4 of larger cycle degree soon.
It's gonna be nasty and a lot of tech companies are gonna go bust.
But the bad money needs to be cleansed and the free market needs to decide who is allowed to stay in the game.
I'm looking for a 40-60% pullback. We will enter a bear market for the next year or two if this happens. I think we're nearly there.
I need a further breakdown of the RSI to confirm it, but if we keep selling off this week and it accelerates, remember this chart.