ThePuma

ThePuma

It appears that we are finishing subwave 5 of subwave 1 of wave 3. Yes, you read that right. Let me say it one more time. We are finishing subwave 5, of subwave 1, of wave 3 upward. This means we would enter a subwave 2 down that could bring us to a potential entry point around 10,100. I'd recommend setting a stop loss at your comfort level. .768 retrace would...

ThePuma

Volume has picked up, but every spike in buy volume seems to be exceeded by a spike in sell volume. It seems that we can't fully confirm wave 3 until we break over $12,000. We should expect heavy resistance in this area if we are able to make it there. In the micro-term, we should be looking for a slight price drop as RSI levels correct. If we are unable to...

ThePuma

A few waves have been truncated in a bearish manner. This suggests a bearish retrace. Looking for a retrace to the 0.618 levels with entry targets between 7800-8200. Watch for reversal signals near the 9,000 levels, but I currently don't see signs that it will hold these levels. Don't fall for a short term bounce.

ThePuma

It appears to me that we have not quite completed wave 2. Fib retracement of wave 1 has so far found support at the .382 levels, but we should expect to break that level upon a bounce from previous resistance. That being said, we should consider all options. What if we are done with wave 2? Moving upward past 11,000 levels could confirm the start of wave...