ok so update to last idea minor correction extended the last triangle (5 mini waves then drop) but found support and redraw of the purple area/triangle. so no real change apart from higher: 1) push up through old trendline (less likely) 2) small correction/drop through trend to support and continue along the new extended triangle/trendline - 3) drop - which would be neat for my gartley pattern , but apart from wanting this to come true because it would fit nicely
all depends on which primary wave we are in i.e. was the big drop wave 4 (and we are in first part of wave 5) or... 5k was 5th wave and we are still in correction mode history says we are, but needs confirmation either way. on the bullish side we jumped out of the ichimoku cloud yesterday and TD -0.34% indicator positive.
as always this is not investment advice etc. all points, timescales and patterns bound to be off - much better analysis out there from others!
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Ok so option 1, let's see how high and whether it holds/falls after peak. Assuming 5th wave similar to 1st then peak at 5k... Quite likely to correct first then push higher, but we'll find out soon
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popped out of the triangle last night, but straight back in. RSI v. high
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so up it went - nice so based on this chart its got a big fib box (up to 10k intially) between now and the end of next month (roughly). This fits in with the TD weekly count (currently at 2) assuming now shocks/surprises...
So another td count of 9 on Sunday, so spot on as per popular video (TV) for a fall. Already signs of falling and RSI v.high. could pop up a bit higher first though as bull flag and not day 9 yet. Then 4 days of falls, let's see how low she goes. Lots of support (on bitfinex at least) so I'd be surprised if 5k didn't hold. Not a huge amount of resistance above so I think 10k is looking more likely (everyone been talking about for long enough). Wherever it peaks, big extended fall afterwards likely somewhere between 2-3k maybe, but extended correction possible maybe combined timing with stock markets. 22k next?