I've tried to make this chart look as least intimidating as possible, because that always makes for a good chart!
The market cycle playing out is a fractal (elliot waves). Entry is at the 50DEMA. Time-fibs have been spot on in the previous cycle so they're worth considering in this fractal. Also, the fib-extension from the last cycle is relevant to this cycle.
I will be going margin long on this on poloniex :)
Thanks, Caleb
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Forgot to mention that theres a smaller fractal of a falling wedge playing out on the 4H timeframe, and it looks identical to the much larger move at play (as shown above). Beautiful.
The only thing I see right now regarding the price movement going lower is the daily MACD. We are still away from a reversal trend. How long can this daily downtrend last?
The only thing I see right now regarding the price movement going lower is the daily MACD. We are still away from a reversal trend. How long can this daily downtrend last?