On the chart we can see the Expanded FLAT correction. Wave a was created in March 2020. Wave b reached almost 138.2% of wave a. Notice the huge bearish multiple divergence on RSI, which formed for 3 years. Now it looks like we are at the beginning of wave c. This would mean a correction of more than 55% to the levels of 2013. In the expanded FLAT correction, wave c must return 138.2% of wave b.
On the daily chart we see a huge rising wedge. There has been a breakthrough today, which could be the first signal of a crisis.
I see another signal on the dollar index, which has an inverted pattern like the S & P500. Falling wedge. There was a breakthrough and testing. We are now creating a higher high and breakthrough MA100.
S&P will pump further. Strong bounce at 3700. Dollar will dump further. Strong rejection at 92. S&P target 4400. DXY target 86/87. Trust me go by the trend. I predicted the bitcoin 50k move in sep 2020. I have been trading for last 4 months. But i learnt the skill. You kept on increasing your bitcoin trendline from 12k to all the way 61k. Missed the opportunity big time. Bitcoin will be at 100k by end May. Dont use EW for BTC. Its horrible. Just go by trendline.
Fox666
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@Girrad, Where do you see a strong rejection at 92? The S&P 500 didn't bounce much. We'll see the next few days. Everything indicates a fall.
Fox666
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@Girrad, Everyone predicted BTC at 50k, most predict 100k and some millions. Therefore, it is unlikely to happen.