Wave Elliot Classic starts here, i am long (no bearisch area) NO EMA 50 killed are, we will see a full bully market cyclus in coming weeks after Wave D is completed
it's already way outside the lower BB it wont continue to drop that sharply in such a short time
onemanbank
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@lujon87, i think we have some sell offs coz of some news coming around from US / China and JAPAN as u know ... the Elliot Indicator never build up news, so we have more to drop as assumed max. 10K - 9K than we too much buy orders which you can already see are done last days. Timeframe is unnecessary but 20K as a new ATH is more than possible and people take the dip now or at max- 9K!
UnknownUnicorn708009
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@onemanbank, you project sub 9k pricing in 5 days, look at the BB, it encompasses the 2 std dev probability of any possible price, for it to reach 9k in that short of a time frame it would have to have 5 consecutive days of heavy selling at or below the lower BB price, very unlikely. 10k is the bottom in that span
onemanbank
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@lujon87, time will show but 10K was a big support and its fallen ... next support 8500 USD after that rebounce like my chart :)
UnknownUnicorn708009
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@onemanbank, looks like time did tell and I was right - dead on in fact. you have to respect indicators like the RSI and bolinger bands. i don't think you understand the BB - if an equity is already resting at or below the lower BB for days from a prior sell off, a price target that would require it to continue that trend for 5 more days straight is very unlikely.
if that did happen then you should never ever buy into something like that. that would be the precursor to a huge crash.
as for now it looks like we are due for another bounce back to 10-11k tops in the coming days, but 6k by march or april looks like a real possibility