Hi All,
This is a continuation of the previous post, link supplied below.
I pose the question, have we hit the top in this wave 3 and now going to wave 4?
You be the judge.
I do see upward pressure but is it enough to take out the previous high, as the bounce is bullish compared to 2019.
It also makes me think, ETH target was 800 to 840, so it leaves that doubt.
OBSERVATIONS:
> The wick went to the 4 HRLY 10/20 ema for support
> The wick hit the 0.618 fib retracement based on this.
PREVIOUS POST RELATED TO THIS IDEA.
This is a continuation of the previous post, link supplied below.
I pose the question, have we hit the top in this wave 3 and now going to wave 4?
You be the judge.
I do see upward pressure but is it enough to take out the previous high, as the bounce is bullish compared to 2019.
It also makes me think, ETH target was 800 to 840, so it leaves that doubt.
OBSERVATIONS:
> The wick went to the 4 HRLY 10/20 ema for support
> The wick hit the 0.618 fib retracement based on this.
PREVIOUS POST RELATED TO THIS IDEA.
Note
All the other tools are useless now. LOL.All I can use now in a reference to previous is monthly highs.
RSI month has room to the upside to match 2017 level.
Next Fib level
Note
Note
Looking for the next target, I used the monthly CPR (January) and the Fibonacci. Note
A thought came to mind...hmmm.... this is on Bitstamp.Note
My thoughts on the macro structure for now. The target is the minimum based on the 1.618 extension. I will have to do some research as to why many say 100K plus, based on my understanding the multiple EMAFor now, on the macro structure, we have BEARISH ALT AB=CD where we hit the 1.618 level. as per this chart.
and using the fib time extension, maybe sometime in May for Wave 4 to complete.
Note
Short term danger. It seems its respected as resistance and now support. If we lose this level, its definitely a significant drop.Note
increases the chance for a down trend. If it loses this red level, it becomes bearish.Going with the 4 HRLY , it opens the door to the H&S... My advice is for you to study the drop in early 2020 prior the black swan even and you will see a sophisticated H&S. This one might be straight foreword. THis puzzle is aligned with 2019 top as well. too much effort to explain it all. Might do a video.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.