Here's another refinement on the idea I've been tinkering on over the past few weeks. It's based off the fractal from BTC in Jan 2018.
This current rally is a bull trap. Be careful, don't get caught out.
I've been following this emerging pattern for a while now and believe it's a WXYXZ triple zig zag corrective wave after the recent rally we had. I don't think the rally was a bull rally though. I think it was a B wave and we are now in a massive 2 year C wave which will play out similarly to what happened in the A wave of 2019.
A few days ago I published this idea which is playing out nicely (for the bears, not the bulls)
I think the formation is actually a triple zig-zag, not a double. But either way, the end result is the same. Here's a comparison to what happened in the last bull run in Dec...
In the parabolic bull run of Dec 2017, it all came crashing down in tremendous fashion - a double zig-zag WXY - and then a dead cat bounce and slow bleed out to the downside over many months.
My, my how history repeats itself. It has become apparent that the exact same initial pattern is unfolding. Parabolic runs will always come tumbling down, this is the...