We should wait next days for 1d,2d, candle close between 10k-11k again. 10k should not be broken with daily close for resuming this uptrend, Well done.
Here is my last view:
@CryptoManiac101, hmm if this is not the reversal position, we will go to 14k again very soon.
CryptoManiac101
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@ScarlettWang, Yes we will be going up, but if we look at fractals we should see further upward trend... I think of current phase as bear trap... Sure support for parabolic trend is around $9,000 so it theoretically can drop to that level, however I see $12,000 maintaining perfectly and unless we break it, I do not believe opening fresh short here I wise. Might want to hedge it at least.
AlphaMex
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@CryptoManiac101, love your charts. Let the time to tell us where it goes. I am looking for a C leg then up. Normally correction will continued for two weeks(we just finished the first week), then up. I checked the history of your chart also... it's a two weeks correction.
CryptoManiac101
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@ScarlettWang, I agree that in traditional set up that is what we would be looking at however usually in parabolic bear market or parabolic bull markets it starts behaving differently. Just over last week we had over 5 bear patterns which we all jumped through without any pull backs. Again, parabolic trend will be valid even if we see $9,500 zone touched, however I do not see correction taking over 2 weeks as it will invalidate this parabolic trend which was maintained in 2017.
Thanks for positive feedback also!
AlphaMex
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@CryptoManiac101, Respect your dynamic thinking, I think you are right about the bull market shift the pattern reaction into more bullish region. Bull flag -> flat correction, then pump. 0.618 may be just a continuation pattern. Shooting star may be another continuation upward pattern.
CryptoManiac101
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@ScarlettWang, Thanks, we just need to maintain 12k at this point for bullish confirmation continuation
Here is my last view: