Right now we're in the wave 4 of uptrend since 10210, and in wave 3 of the bigger move since 9250.
But well the chart is pretty self explanatory.
Reasons (facts) for a drop either than waves (which is tricky and people fail at drawing it all the time):
* Sunday is always . If you didn't know that, go check previous Sundays.
* We are in a too which tend to break down most of the time.
* getting pretty high
* The log downtrend is at about 11500, when we reject it people are going to say "told you so" and call for 4k. But we know better and unless we lose 10700 we won't even start to consider it.
Bonus: * And yeah... waves too
This offers us an opportunity to sell, take some profit out for those in since ~9500 or since 10300, and for those that missed the whole move up, a chance to finally get in with good RR.
Buy range: 10700-11100.
Stop loss: Somewhere below 10700 - will evaluate more precisely if we get there. Depends on your own strategy tbh.
Target: 12000 first target, 13000 full target which is the target of this little cutie here:
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
Got a couple of hours before it tests the log downtrend.
Probably before the day closes.
Won't sell and won't short till we drop out of wedge, or we go past 12k and indicators all point towards a retracement.
Can't be more than 12 hours now...
Either buy at bottom of leg 4 (around 11300?) target god knows where, maybe 12k, or wait for leg 5 completion buy somewhere around 11k target 13.
Either we're at wave 4 and will go higher before going to one of my 3 yellow boxes on the right of my idea, or wave 5 just ended and we're going to my new entry box.
So we would be looking at the 10700-11000 box.
Zooming out even more:
Hopefully once we break levels we accelerate up as people get baited and I can close some longs and open a few shorts, cba waiting several days more.
Sry for spam.
Think I covered them all by now.
I can understand... it's so damn boring it's moving so slowly...
If we go down well just buy 10700-11000 worry if it goes below.
1/ Reason to believe we're only going to 12k
2/ Nah 13k
3/ 13k another way to see it
Wave 3 can never be the shortest ==> deal with it.
Stop loss area is still a bit under 10700, for now.
(apart from muslims and jews Sunday is a do nothing day for every one investors and traders included)
If the 1/4 of the world that arabs are would also sleep on Sunday it would be even worse :o
Great time to day trade kappa.
If it gets tighter than this it will reach another dimension and the universe will crush on itself.
Might be time for leg 4 / D
A good read about wall street accumulation:
The thing with crypto is it's full of individual market makers, bots, and it's not just in the US it is worldwide! They can fight back, if a whale tries to scare people the market makers / bots can rob them! Power to the people!
2- The scammers come in
3- Regulators start looking