looks like everyone stopped calling 15k and 16k and new ATH targets !
WHY 15-16k target now ?
1- This idea is pretty contrarian now while many waiting for that 8400 target ! 2- bull flag formation after a strong rally is an indicator for continuation. 3- altcoins carnage with many hitting daily 200 MA and below. 4- Because WHY NOT !
Unless market is looking for double bottom for alt coin market I expect this is just a final shakeout out followed with sideway move for alts while btc continues to new yearly highs. (check 2015-2016 for similar pattern)
(PLEASE NOTE THIS IS NOT A TRADING ADVICE ITS JUST AN IDEA SO PLEASE TRADE AT YOUR OWN RISK!)
Komentarz
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BTC .. FOLLOWING GOLD ?
Komentarz
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a closer look on 1h <deleted>
Komentarz
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Komentarz
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The last 4 digit buys ever !!
Komentarz
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at this very moment we are out of 4 digit bitcoin .. HISTORY IN THE MAKING !
Nice one !
I agree with your analysis 100%. Everyone now waiting for 8400, nay, even 7300 and many even 6000.
However, if too many expect something, chances are high that it won't happen.
And judging from all the tradingview posts, 90% expect some major correction to occur.
Therefore, I believe that your view is correct.
Also, the gold fractal and the wave 5 theory point to you being correct.
Cheers man!
elshanti
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@FlaviusTodorius67, yes your gold comparison idea is great and supporting this idea .. lets see maybe this time no suprise so everybody happy buying the 8k dip LOL !
SebastianofMoon
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@elshanti, Yeah maybe this time btc is actually doing a standard correction, hehe. That in itself would also be a surprise, because we already expect bitcoin to do something extremely surprising XD
elshanti
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@FlaviusTodorius67, very true ;)
Bullandbeartrading
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Nice bounce zone.
transparent-fx
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very happy to see you publishing ideas and your view, i hope you are also taking the great value i give in my content