So many people are about to get caught in this double zig-zag, thinking that it is a reversal to new highs. I'm here to warn you that we will not be making new highs on this aggressive move to the upside (to 39k) in the coming days, but rather it will be the final phase of distribution before MM dump the last of their bags on everyone. Don't get caught in this trap, as it is going to happen Very quickly. Scalp it, sell on the way up, set your take profits, move your stops up as we go - do whatever you can to protect your capital. You aren't going to want to be a part of what is to come after this big move.
My down side target sits at 23k to complete this Wave (4) correction, but I would not be surprised to see a liquidation wick bypass that 19k range to liquidate as many longs as possible before the real move up to 80~125k.
With so much uncertaintly/bearishness at the moment, do you think there is enough juice to get the price up to 40K?
Eloquent
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@peeduh, billions of dollars have been transferred over to Binance over the last few days - a big player is planning an exit - and this is their last shot before the global markets open on monday. we've entered into a global correction, so unless they get out before next week, there's no saying what comes next.
I posted my latest trade setup just now, and will be updating this as we move via:
good luck!
riseofcrypto
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Stupid whales may be holding more tokens beyond Elliott Waves can handle, a big sign of centralization and manipulation
Eloquent
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@yaccc49, I wholeheartedly agree with you. That's why this move is about to take place in my honest opinion - so who ever is behind it can exit their entire position, just in case something like this was to happen. Fed talked about it recently, so it's definitely a possibility.
There has been billions of dollars moved to Binance over the last couple of days; that was one of the few pieces to the puzzle that led me to the conclusion I am presenting today.
MOCapital
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Agree, also I don't tink it couldn't go higer than 32k, W candle is too bearish and it will close tomorrow, lets see
Eloquent
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@MOCapital, starting to see weakness, structure slowly falling apart. you might be right
The_Bubblemania
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We may see everything. SPX500 has been growing for 12 years and is due for major correction starting this or probably next year. Bitcoin has not seen the real bearmarket yet.
Eloquent
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@gentlycaresser, in my opinion, the real bear market comes after that last move to put in that wave (5) on the highest degree from 2012
so long as we don't break the mid 13k's on that drop, then our bigger structure remains valid for the last move to the upside.
DogeMaxi
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Agree but don't be shocked if we see 10k or maybe 5k