Finally the rally price action proved previous forecasts to be true(ish).
The question everyone is asking - when does the rally end?
I've carefully mapped out all four basic bullish scenarios I can see in this market. We're about to see at least one deep correction model that will retrace 15-40% of the typical 12345 impulse, if it is finished(if so, then bulls will rest for a day or two,' observe the battlefield, confirm the price stability).
I suggest 4 basic scenarios, all bullish. So DON'T panic, one deep correction may easily form allowing the bulls to quickly replenish lost soldiers and bring even more fresh whale buy-ins to our party!
I've tried to consider all major res/supp levels and the common time lengths that suggested correction models commonly feature for BTCUSD(to the best of my analogish brain judgement).
Chart tells you everything you need to know: two most probable scenarios are all mapped-out with the consideration of known levels.
I also suspect that the FOMO is great right now and the current impulse has a lot of driving force left to continue surging up to 8.8k+ without and deep retraces.
I vote for THE MOST PROBABLE SCENARIO I. (subgroup II. is as probable as I.)
Do you?
The bigger picture can be observed in the related ideas... below... They are all parts of the same market analysis.
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It's acceptable to enter both short and long now. If shorting - aiming at a figure-two intraday play along with the correction movement( not recommended for the beginners). If longing - not the best position. I'd wait for the dip that will happen sooner or later(a few days max). Be safe. Diversify. Peace. I'm a trillion molecules. - confirmed.
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The whole picture on a daily.
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THE MOST PROBABLE SCENARIO I. is xyz12345
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THE MOST PROBABLE SCENARIO II. is xyzwxyz12345
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Reconsidered the picture. Still bullish, though.
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secret: click the chart above, d.P.S. )
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Confirmations kicked in. Will we drop to 7700? But we will redo 8150 first(small bullish counterattack).
@Msparky, thanx. I'm out of the market for now. Thus forecasting with a clear mind lacking free of the fear of loosing. Keeping an eye on the beast all the time!
orbborrison
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@orbborrison, Thus forecasting with a clear mind free of the fear of loosing. * corrected