As time moves and the crypto majors move mostly sideways with alts popping off in what seems to be a mini "#altseason" one has to start wondering, "When is the majors turn?"
It is quite difficult not to be bullish at this moment in time with the constant positive FA that keeps arising and bullish market structure that BTC and ETH has built.
This is an update on my previous BTC chart and nothing has changed for the overall picture besides the targets being surpassed. The entire PA structure is still 'in tact in regards to what we want to see.
The proposed WXY was given on OCT 22 and thus now has seemed to have completed the A wave impulsive structure from the break of the 6k Floor.
Moving forward if...
ADAUSD does not look too hot as we dip into the demand zone once again within a short time span resulting in a weaker bounce than the previous, buyers are scarce in this zone as liquidity has been sucked dry. If something does not turn quickly i can see us testing previous lows if not more.
A clear indication of a break will...
Ethereum has been range bound once again and that has caught us by no surprise as PA tightens and volume continues to dwindle it is hard to say we last like this much longer. With the DOW Jones plunging more than 800 points this mark as the 3rd deepest dive in history. It is hard to put faith on the idea that investors and retailers alike will now run to the most...
Levels stated for validation 6090 and invalidation 6800
points A - C hit
points 0 - B - D hit
sell offs are more violent than bull PA supporting trend direction
X primary WXY subwave structure is supported with structure and RSI
In the game of trading there is are two extremely important skills that a trader must have in order to become profitable and those maintaining a level headed and patience. Patience is truly a virtue in the game of trading as some patterns in price action may take days, weeks, or in Etherums case an entire month of grueling sideways and converging price action....