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$7777.00 threshold has been breached, it doesn`t mean that BTC target bellow 2k is still not in play, the question is when this will happen.
A few reasons for this:
1. wave D in a bear market shows up in horizontal triangles. If the triangle is contracting, it often is accompanied by an increase in volume, and volume that we have now corresponding to wave D characteristics, but not big enough to confirm bull market and this is because it does not fully retrace the previous wave.
2.Wave E is often attended with emotional psychology playing against the investor and where people getting caught wrong side because of the news regarding the market, for example September ETF... again corresponding to behavior of wave E and can`t be a coincidence.
3.ALTS behavior was abnormal> Period!
I believe that we are going to see a fast test/correction to around $7700.00- area, to simulate capitulation stage and then a big and fast fat candle-moon to $10.000 -/+ $9854.00 is what I have in my mind, this is to make all bears to buy back with confidence overpriced BTC after selling it in a loss hopping to get lower, once this fast circle will happen the pull back should be fast and devastating, we should head to 3k-4.7k area in a month or so...
This is what I believe that will happen, or at least I hope to happen as sold everything already to early at $7777 then bought it back over $8000, then I stooped and thought that something is not right, came with this idea and sold again everything at $8300... but we might be already in wave E, who knows... please share your thoughts/ ideas.
Thank you and good luck guys
Update picture:
A few reasons for this:
1. wave D in a bear market shows up in horizontal triangles. If the triangle is contracting, it often is accompanied by an increase in volume, and volume that we have now corresponding to wave D characteristics, but not big enough to confirm bull market and this is because it does not fully retrace the previous wave.
2.Wave E is often attended with emotional psychology playing against the investor and where people getting caught wrong side because of the news regarding the market, for example September ETF... again corresponding to behavior of wave E and can`t be a coincidence.
3.ALTS behavior was abnormal> Period!
I believe that we are going to see a fast test/correction to around $7700.00- area, to simulate capitulation stage and then a big and fast fat candle-moon to $10.000 -/+ $9854.00 is what I have in my mind, this is to make all bears to buy back with confidence overpriced BTC after selling it in a loss hopping to get lower, once this fast circle will happen the pull back should be fast and devastating, we should head to 3k-4.7k area in a month or so...
This is what I believe that will happen, or at least I hope to happen as sold everything already to early at $7777 then bought it back over $8000, then I stooped and thought that something is not right, came with this idea and sold again everything at $8300... but we might be already in wave E, who knows... please share your thoughts/ ideas.
Thank you and good luck guys
Update picture:
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This is bad... I was not expecting ETF to be denied, I do not believe anymore that we will go to 10K, we might go straight down 4-5k in a week or so if panic takes control.
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