Ok ok.....probably not the best metaphor, but when I came up with it it sounded okay. Even if the King decides to sit back behind the wooden fence lines and the tall concreteish walls while the bulls stampede up the dirt felt ground at least he'll have a good view.
I'll work on those metaphors, but in the meantime let's take a look at a possible scenario. Recently, I posted about a possible IH&S formation and although that hasn't completed yet things are looking good.
BTC appears to have broken out of the downtrend and is potentially opening for Wave 3. This has not been confirmed yet, but the two daily candles having closed above the downtrend line on the chart is a good sign. If Wave 3 has begun, this is great news for the Bulls as it is often the longest wave in the Elliot formation. If we receive confirmation of Wave 2 coming to its end and the beginning of Wave 3, it should be a good time to take a position in the King. This could also deem well for Alt Coins as well.
Things to watch for:
1. The completion of the IH&S formation (often a sign of bullish reversal)
2. Confirmation of Wave 2 completion
If those two things occur BTC could test the ATH during Wave 5 IMO.
Note: This is not to be considered as financial advice and I hope, for the sake of humanity, you wouldn't listen to someone on the internet when investing your hard-earned fiat. Especially, with a profile picture of an egg. As always, DYOR.
I'll work on those metaphors, but in the meantime let's take a look at a possible scenario. Recently, I posted about a possible IH&S formation and although that hasn't completed yet things are looking good.
BTC appears to have broken out of the downtrend and is potentially opening for Wave 3. This has not been confirmed yet, but the two daily candles having closed above the downtrend line on the chart is a good sign. If Wave 3 has begun, this is great news for the Bulls as it is often the longest wave in the Elliot formation. If we receive confirmation of Wave 2 coming to its end and the beginning of Wave 3, it should be a good time to take a position in the King. This could also deem well for Alt Coins as well.
Things to watch for:
1. The completion of the IH&S formation (often a sign of bullish reversal)
2. Confirmation of Wave 2 completion
If those two things occur BTC could test the ATH during Wave 5 IMO.
Note: This is not to be considered as financial advice and I hope, for the sake of humanity, you wouldn't listen to someone on the internet when investing your hard-earned fiat. Especially, with a profile picture of an egg. As always, DYOR.