... and maybe even longer.
So I was asked about what the MEGA PATTERN of the NASDAQ would be and how likely I think it will be that we retrace 60%.
Because I thought well this is very important and something more people should see, I decided to post my answer to this question as an idea:
"So this is the mega pattern, going so far in the future that we won't be...
The Amazon Shares are in the state BTC was before the huge correction.
You can see a very very clear Elliotte Wave.
It makes the exact same moves as BTC just very slow.
And everybody is thinking that the amazon shares can't go down and that it only can go up.
DO NOT BUY RIGHT NOW!
If you want to buy right now just take a look at the BTC chart...
We are currently at a very critical point where ETH decides if we already finished the correction or not.
If we are finished, we must bounce of the 0.786 Fib which is a HUGE support (and psychological number with $500)
So, if we do bounce of (see O1 in purple), then we have finished the first wave of a new cycle with higher highs and higher lows coming in our...
Just a small update for my last post on this (because the las one was very ugly).
I think we will revisit the 0.786 Fib and then make a big bounce all the way up to the 0.618 Fib.
If we don't break through the 0.786 the Elliott Wave holds true and we will break out of a big falling wedge pattern.
After the break out of a falling wedge we usually revisit the...
Well it is not looking good...
We are currently in a VERY strong downtrend.
Recently we broke through the most important support.
This support was tested 3 times until we broke through (green arrows).
Now we are as low as never before continuing to make lower lows and lower highs in this downwards channel.
We tried to break through this now major resistance,...
We have a big Ascending Triangle Formation (blue lines).
I expect Digibyte to bounce of the resistance and follow the bullish trend.
The 0.786 Fib is a key resistance we have to break through.
If we do I think we are breaking rather quickly through the Ascending Triangle Formation.
This Formation has a 50% chance that it will dip right after the breakout.
I expect the price to bounce from the 100 lvl (this would be the area where you want to buy)
And then I have a target of 30% where I definitly will start to take profits.
KEEP IN MIND this is a VERY VERY long trade/investment.
We are about to finish the second out of 3 waves.
When this happens we will revisit the 5000er levels (blue support line).
I expect the NASDAQ to rise up to the 9000er levels and then bounce of the fork.
When will it happen?
We are good to go for the next 270 days with an gain of about 13% from today.
But then I expect a retracement of about 44%.
Since my last call went as predicted I thought I bring you guys a new one.
I don't think we go for a new low therefore I only see 2 possible scenarios:
It couold happen, that we go back to the last support (~6730 lvl), which would be a perfect possiblity to buy some more BTC before we break out of the big falling wedge.
Would be that we...
We are testing a key resistance right now!
If we manage to break through we are close to a HUGE breakout.
We will be in full BULL MODE once we break out of the huge falling wedge.
Most of the time we also see a retracement to the breakout level of the wedge, so if you want to play it safe wait for drop.