BITCOIN: Top buyers will be baptised with blood
So we finally made it to 10k USD. Its been a long time in the making and I now see this as a time to be cashing out some profits while the masses enter the market at ludicrous highs. I have seen multiple reports of people selling their houses and maxing out credit cards in order to buy in right now, so unfortunately they are going to be destroyed.
The Elliot Wave has completed it's 5th wave and now we are looking to head down with an ABC corrective wave. This would also form a big head and shoulders pattern that breaks down to the $4965-$4800 area - our next SOLID support zone.
On the shorter time frames I've been watching a simple trend line that follows along 3 points so far. I'll be entering short when this breaks.
Something else worth noting is the Shooting Star candle pattern which can be seen on the daily time-frame. The daily candle went well beyond the 10,177 target that I set as the top for the bull run, but it did pull back below it and close red. The shooting star is a bearish candle pattern and this further supports the prediction for a large correction now.
pbs.twimg.com/media/...XGVAAE8Vi_.jpg:large
twitter.com/Investby...s/936072849101430784
The Elliot Wave has completed it's 5th wave and now we are looking to head down with an ABC corrective wave. This would also form a big head and shoulders pattern that breaks down to the $4965-$4800 area - our next SOLID support zone.
On the shorter time frames I've been watching a simple trend line that follows along 3 points so far. I'll be entering short when this breaks.
Something else worth noting is the Shooting Star candle pattern which can be seen on the daily time-frame. The daily candle went well beyond the 10,177 target that I set as the top for the bull run, but it did pull back below it and close red. The shooting star is a bearish candle pattern and this further supports the prediction for a large correction now.
pbs.twimg.com/media/...XGVAAE8Vi_.jpg:large
twitter.com/Investby...s/936072849101430784
Komen:
Additional chart for this idea.
