Alrighty, hello all.
Been a while, but here's another post on this adorable site.
Let's state first that I'm pretty bullish on Bitcoin and I'm pretty bearish on stock markets.
The tweet that before 5 april the stock markets will fall + BTC will break downtrend + altcoin season is triggered is obviously still standing.
What do we see?
Well, we've seen the drop to $6.000 beginning february, bouncing on the logtrend + 0.618 fib level.
After that I'm pretty sure we're done with the correction ABC waves. But, coming to the conclusion that we're done with the ABC correction waves, this changes to the corrective sideways pattern.
So, there we are now. Had some falling wedges, with a major one ending around $7.300 with strict bullish divergences on every timeframe all the way up to the 4 hour candles.
There are two scenario's from here, given the sideways corrective waves pattern:
1 - ABC upwards towards the resistance line around $9.900 --> finishing X and then we'll see the Y and triangle before we'll move upwards and break the downtrend line.
2 - ABC upwards (green), then a drop down in the form of the B (blue lines), then the next leg up in the form of the C , which should be dropping around $12.000 --> giving clear confirmation we're still sideways. Some sort of triangle afterwards and then we'll be triggering impulse waves later in May towards $100.000 and maybe $250.000.
So, which one I'm expecting?
I'm slowly hanging towards the second one, as I'm combining the things with the stock markets and I do think we'll flip the correlation when we break the downtrend.
Given the fact that the latest falling wedge is such a significant one, I'm expecting the blue pattern to unfold, as it doesn't be in a correct matter with the smaller falling wedge from $9.200 to $11.600 otherwise.
So yeah, normally we'll be breaking out at the beginning of April, stock markets will plummet and we'll be running towards $12.000 then.
Will elaborate more in a livestream tomorrow.
Been a while, but here's another post on this adorable site.
Let's state first that I'm pretty bullish on Bitcoin and I'm pretty bearish on stock markets.
The tweet that before 5 april the stock markets will fall + BTC will break downtrend + altcoin season is triggered is obviously still standing.
What do we see?
Well, we've seen the drop to $6.000 beginning february, bouncing on the logtrend + 0.618 fib level.
After that I'm pretty sure we're done with the correction ABC waves. But, coming to the conclusion that we're done with the ABC correction waves, this changes to the corrective sideways pattern.
So, there we are now. Had some falling wedges, with a major one ending around $7.300 with strict bullish divergences on every timeframe all the way up to the 4 hour candles.
There are two scenario's from here, given the sideways corrective waves pattern:
1 - ABC upwards towards the resistance line around $9.900 --> finishing X and then we'll see the Y and triangle before we'll move upwards and break the downtrend line.
2 - ABC upwards (green), then a drop down in the form of the B (blue lines), then the next leg up in the form of the C , which should be dropping around $12.000 --> giving clear confirmation we're still sideways. Some sort of triangle afterwards and then we'll be triggering impulse waves later in May towards $100.000 and maybe $250.000.
So, which one I'm expecting?
I'm slowly hanging towards the second one, as I'm combining the things with the stock markets and I do think we'll flip the correlation when we break the downtrend.
Given the fact that the latest falling wedge is such a significant one, I'm expecting the blue pattern to unfold, as it doesn't be in a correct matter with the smaller falling wedge from $9.200 to $11.600 otherwise.
So yeah, normally we'll be breaking out at the beginning of April, stock markets will plummet and we'll be running towards $12.000 then.
Will elaborate more in a livestream tomorrow.