Seems to be establishing resistance on that green ellipse, and I assume it’ll attempt another break, but perhaps not until BTC settles...
Let’s see how the next few candles close...
After last night’s dump, it seems all scenarios are on the table. It seems to have fought back to just above that green ellipse. Yellow and orange trajectories seem more possible if we get a candle or two closing above the green ellipse. Otherwise, red and blue look more likely IMO. Would love to here comments on where you think it goes next, and why.
ALGO had pushed up into the larger ellipse shown. If the current daily candle closes above that lower boundary, I expect either a parabolic run, or a bounce up the bigger ellipse. Could also see it drop under the bigger ellipse and bounce between it’s lower border and the ellipse drawn below it.
It’s keeping to the green ellipse as hoped, and I discovered the yellow one as well. Once it breaks out of both, let’s see if it takes a breather to the downside or continues straight up.
I poorly drew some squiggles representing how BTC might move based on the current ellipses it appears to be respecting.
If it keeps testing the bottom of that green ellipse, or better yet breaks inside....
Really thought it was leaving this bubble today. Maybe not?
Broke up out if the two local ellipses, but still trapped in the larger overarching one.
Would be good if it breaks into green ellipse, but even if it keeps testing the bottom, things are looking up. If it falls into the red, I may add to my position. ** This is all very experimental at the moment. I feel like the ellipses don’t have as much predictive power about direction, but seem to do a better job than trend lines at defining boundaries. Still...
Potential ellipse intersection points in near future
Still waiting on GRT to make up its mind.
Still trapped at the edge of the yellow bubble. Will move on tomorrow?
Still experimenting with ellipses...
Seems very possible it goes to 54K, then from there... back up?
I’m betting on it breaking up once it breaks free, but will watch closely...