I think we are in wave 3 of an extended wave 5 of 5.
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blue shows where I believe we are within wave 3 (zoomed in)
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Price at resistance but showing no signs of slowing down. RSI broke the trendline, Stoch RSI looking good, MACD crossed. All systems go.
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Great news
twitter.com/lopp/sta...s/925870585611091968
twitter.com/lopp/sta...s/925870585611091968
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Looks like wave 3 is complete:
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Targets for wave 4 are the purple line ($6850 or so) and if that doesn't hold then the blue fib ($6350 or so)
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If the price makes new ATH's then i'm wrong and wave 3 is still in progress.
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$6900 bottom close enough...I think that's it for wave 4, time for wave 5:
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Wow looking great moon moon moon. Seems to confirm $69xx was the bottom. Slight adjustment here, wave 3 is still in progress I think:
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Looks to me like wave 4 is in progress:
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bouncing now but don't think we're out of the woods yet, seems we are going up to make former support resistance then we head down to finish the correction to $6k-$6300 or so. Then new ATH's.
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I think that's it for wave 4 guys:
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Eh, bad call, sorry guys. It happens, but as far as the count goes, still totally valid as long as we dont go below $5k.
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Looks like a good risk reward here, possible 4 is now complete. Careful though, if it goes below $5500 going straight to $5k.
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Looks like we're going to test $5k...
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Eh maybe I spoke to soon, we'll see. Honestly could go either way. Probably which ever breaks first $5600 or $5900-$6k.
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Could not break through $6k...
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So well see, could go either way.
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Looking good, as long as we stay above $6k than I think wave 4 is complete:
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Looking great, and now we have a beautiful bull pennant forming:
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Short term target reached more or less:
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Keeping an eye on the 1.38 extension...if we can successfully clear this level, the uptrend resumes...if not still can expect a decent pull back before we go to $10k+
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Just updated the fibs to take into account the new high, again unless we break the 1.38 ext (around $8500) still expecting this pull back for wave 2 of 5 of 5:
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Sorry guys, forgot to update this one, price broke above $8500 and pulled back a bit and went higher, seems clear we are going up and the uptrend continues. Could get still get that pull back from higher prices, well see.
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Could still go higher tough to say but regardless I think this is just the first wave, so could get something like this soon:
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Stoch RSI overbought on every time frame from 30m up to the 1 week...could get something like this soon:
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Went a bit higher, but starting to slow down a bit, might finally get that nice drop here. So, been thinking about it (and I don't want to scare anyone lol) but it is *possible that this was the entire 5th wave and the cycle is complete. NOW, I don't think that's the case, I think more likely this is just a 1 and 2 of another big impulse up. But its important to consider all possibilities. So if i'm right, and we head down, this is either the start of an "A" wave of a big A-B-C correction, or its just wave 2 of a huge move up. Again I still think the latter is more likely. We have no way of knowing, so let's see how the market reacts to the next dip (assuming it actually comes):
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Here's a visualization of what I mean on the daily chart, looking for a nice pullback, and then either the green arrow scenario or the red arrow scenario. Let's hope it's green : )
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*Sorry 1 should be: 1/5, and 2 should be 2/A!! Hope that makes sense.
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Like this *
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Looks like she's got more steam left in the tank...still think we'll get a nice pull back soon...then I will basically look to see how we react to that dip...
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Time to ruin the fun?
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Guess not, so wrong haha. If it can maintain $10k who knows how high it can go.
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HMM okay, finally reached the target of this chart. This is strong resistance, if we're goign to get a pull back it should come in this range. If not, you can just throw the charts out the window : )
Anyway, few premature pull back calls aside, ended up being a nice chart. Will probably publish a new one instead of updating this one going forward. Gluck all.
