BTC seems to be driving the market harder than ever, refusing to give up the fight to 50k. Although many coins want to dump, BTC is defiant as ever and potentially causing a trend reversal, which would trigger a continued parabolic rise and bull run!
Comment
⋅
My idea ended up being premature, but correct. Break out was at the double bottom around the .46 range!
BTC got very nice bearish divergence, i dont see any real bull runs coming until real correction.
Sephiroth4269
⋅
@FlowersFor, That is my short term analysis as well, however, we both will find out in the next day or two haha. Given the sheer GREED of BTC right now if we keep scraping 50k... it might result in a trend reversal. I give it a 51/49 that we reverse trend and continue on the parabola.
Rowdy51
⋅
So where ya think we’re heading now?
Sephiroth4269
⋅
@Rowdy51, If BTC breaks the flag and goes up every parabola is going to lose its mind. If BTC breaks the flag, like it did earlier today, but gets rejected again... I suspect it will be a blood bath for a week or 2. Ultimately, I don't think the parabolic pattern will actually be broken, it's a question of when it continues, and how high it goes, or if there is one more correction before that happens. My true Long Term Prediction, is that the 2017 madness happens at the end of this month or sometime in March.