Curious to see how this fractal plays out. I doubt it will make that last push up to 20k - but who knows.. That would trigger many longs as it wipes out ATH.. Anyway, my current target is 13.7k, and then 15.7k (coincides with this fractal nicely). -Hawk
The target is not necessarily as depicted in this chart, this is just an estimate reference of the bearish outcome in the short term. -Hawk
While I see the price dropping in the immediate term, I think that this channel will play a role in a large distribution pattern, as new highs will be made to trap longs. -Hawk
It seems like some alts will be getting pumped in the next weeks as bitcoin cools off from its dominance run. I think Bitcoin can make a move up to 15k, while dominance rises to about 73%. Then Bitcoin begins dumping while alts get pumped. Just my 2 cents, I don't usually do dominance analysis. -Hawk
It seems as though Ethereum is setting up for a rally, possible Altseason coming soon. Volume has been drying up on this last drop, telling me that this bear trend is ending. Another aspect, is that we can see an ending diagonal pattern in the 5th wave's internal structure, also suggesting a reversal. Bitcoin dominance is at 67%, I believe it can go up to 73%...
An Elliott Wave analysis on the current price action suggests that Bitcoin's current correction may be over. I have drawn a channel that the price is likely to follow with my estimate target of 15-17k. Should the support fail, we will most likely be filling a futures gap at $8,500. In the event that we do drop to $8,500, I would expect to see a quick move back...
I'm just drawing lines here, totally subjective and hardly any solid TA to back these lines. Take this with a pinch of salt :) -Hawk
When looking at Tether, I would not be surprised if we just keep moving up from here. In fact, you can even see an inverse head and shoulders. However, looking at the wave structure, I get the feeling that this can be a triangle with a target of 15k. On the larger scale, a move up to 15k could be the last 5th wave - before the market collapses. -Hawk
Experimenting with trading the difference in Tether Market Cap. -Hawk
---------------------------------------------------------------------------------------------------------------------------------------- -------------------------Observation------------------------------------------------------------------------------------------------- Price Increase 1: 3,291% Price Increase 2: 1,641% (50% less than Increase 1)...
This is for my own learning purposes, I am studying Wyckoff. This is not financial advice. -Hawk