Its not exact science but it lets me know what to expect in the days ahead if it stays in pattern
Is it good for the back to bend that much on RSI and MOM?
Bearish divergence starting to form on Money Flow, MACD, and Momentum 1 hour charts, inside bearish wedge with RSI starting to become overbought.
I have 2 wave counts that seem possible to me with 1 being the 2013 high of 1200. One is wave 5 being the 5000k top, and also being 1.618 of the combined wave 1 & 3. The other is wave 3 being the 5000k top and we are currently in wave 4 retracement back to 1200. The reason I now think this is possible is because we bounced at 3000 of the old high which leads me to...
I noticed I could be off in my fractal pattern forming so wanted to make an adjustment (btw, I have no idea if this is right). Top chart is wave 3 and bottom chart is wave 5. Circles indicate where we might be in the pattern. If so then a short timed 10-20% long position maybe possible to 4000-4500. My strategy will be stay in short and add to short position if it...
I have wave 3 top of 3k and wave 5 top of 5k on top 2 charts. Notice the fractal pattern H & S tops with 1 & 2 corrective waves labeled. The argument can be made that its about to go up however if you look at small H & S pattern on wave 3 bottom compared to failed H & S pattern on wave 5 bottom you see the explosion from 3k to 4k failed to form the small H & S...
Time to start cleaning up the beer cans before Mom and Dad get home.
The last time money flow weekly chart crossed the overbought zone 3 times were the 3 Elliot Waves leading up to the crash in Nov 2013. These 3 waves started and peaked in June 2016. Im done posting and going to bed. It was fun.
At some point the the Stochastic RSI and Money Flow trend will need to match the price trend on the weekly chart. In my inexperienced opinion.
Theres only 2 ways to go from here. Honestly, which one is it?
Im no expert but if history repeats itself a possible big dump/bottom is in process of happening that will complete whatever wave this is. The red lines are bearish divergence, black lines are bullish divergence, green lines are in line on RSI chart. Hopefully I'm reading this right.
Maybe we can get another flag pole run
Let the Bull run and quit Bearing down on ETH.
I am certainly no expert, but I swear its behaving the same way as the last wave.
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