All three patterns work within the confines of the Big W Pattern. With the differences being whether the 4th fractal exists at all and whether we are about to escape from the symmetrical triangle portion of fractal 3 now, or much much later. When I look at the other coins poised for a big breakout, I can't help but think that the red overlay is out, but then I come back to the chart for BTC, and all I can see is the red overlay... so ¯\_(:/)_/¯.
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RSI is showing bullish divergence on the 15-1hr charts. And the bearish divergence that's been showing on the 4hr for the past 2weeks has gone away. RSI on the 4hr and day charts are now well below overbought territory, I think we're in for a big boost upwards.
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forget this chart. Follow my "WE ARE GOING PARABOLIC RIGHT NOW!!!" chart. You'll thank me later :)
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It's going to be a good week:
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I made this chart when I was convinced that we were going parabolic... aka WE ARE ALREADY PARABOLIC!!
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like I said ¯\_(:/)_/¯...
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we're just gonna march up this triangle, nice and easy. Don't make any sudden movements, Bitcoin gets jumpy.
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Here's what I think we're going to do here, without the overlay for a clearer view:
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if I was being completely honest, I would say all three options presented on the chart are still possibilities, although I don't think, with no solid evidence, that things will happen that way. The top two may be better in the long run for the crypto market as a whole, but we're going to be too greedy to look at the long run, that's just the reality..
I believe we are in wave 4 atm with target anywhere from 8800 to 8400. Wave 5 will take us to 10.4 k or beyond hopefully. Then the ABC correction. Love your enthusiasm and I do see your critics bashing, just ignore em'. I do not follow your charts by I do follow your excitement and enthusiasm.
Good day
Rainman2
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@DocAMG, thanks :). I agree that there is a possibility we'd head lower, although I think it might be even lower than 8400. But that would just drag this on for longer and I think protracted sideways movement keeps moving down our ceiling... fingers crossed, what can I say.
bastrouphe
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Lool
Rainman2
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@bastrouphe, hey funboy., let me see you produce a chart this accurate:
@bastrouphe, does bitcoin seem to be doing exactly what I said it would do? Good. Now as I say in my comments, the chart above is no longer correct. Follow the 4th fractal chart and keep out of my comments section.
Rainman2
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@Rainman2, the dip as shown on the overlay around this price point on that chart won't happen. I mean, a dip somewhere near here will happen (9800 - 10k ish), it just won't be that dramatic. the trajectory up will be accurate (hopefully) :D
Good day