we bounced 2000$ from the dip..with massive volume as it should.. i find this bounce very similar to september 2017 bounce from the dip at 2950$ with massive volume to 4000$.
september 2017 dip --> 2950 $ february 2018 dip ---> 5900$ (= 2 x 2950)
september 2017 bounce ---> 4000$ february 2018 bounce --->8000$ (= 2x 4000)
expecting sideways accumulation for 2-3 weeks to test upper limit @ 10k once 10k crushed as it happend @ 5k back in september then fomo rally to upper trend line begins around 12k wich should top wave b
Thanks for this idea!
But after B comes C. Do you expect another move down to new lows?
elshanti
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@cmschlch, check here it depends on the market .. it will be like one of the 2013 crashes.. could rally from the circled area to new highs or just continue the bear market with new lows.
elshanti
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@elshanti, market will decide once we reach the green circled area which in our case would be 11k-13k range
BRRD
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@elshanti, the only thing about this comparison to be wary of is timescale.
I think we could just as well correlate better to the low point of the triangles, given timestretching. The bull run took much longer due to the larger market. Why not the correction?
So this could mean getting near ATH over the next couple of months or so, with the media screaming for $50,000 to $100,000 this year, only to fall back just before reaching it.
But after B comes C. Do you expect another move down to new lows?