I feel like I'm taking crazy pills....
Comment:
since I'm getting more followers, I'm advising a bit of caution here. If the price falls below 3400, then we're going to have a quick drop to 1800. The possibility of this happening is only through this weekend/early next week, given some parameters on the log chart that would take too long to explain here. If the price maintains it's current levels until the end of the weekend/early next week, then I'd say the above chart still applies. BUT the image below is a realistic possibility, so now is a time to be paying close attention and if the price dips below 3400, know that a flash crash - sudden drop with a long wick down to 1800 is in the cards
Comment:
obviously, if the flash crash happens, it kicks off the bull run. See the overlay on the image above.
Comment:
Comment:
It's a bit too early to call it but most indicators on smaller time frames are turning bullish. So provided we break through the 4200 neckline of the slanted Inv HS, there should be a significant amount of upside. These are two patterns that I'll be following during the climb up. You can see that they track fairly closely up until 10/12k at that point, the patterns diverge. There is an alternate third pattern I am also tracking on a different chart, for that pattern we would hit ceiling at around 4700 to create a straight neckline followed by weeks, if not months of sideways action, eventually ending up more or less where we are now. Again, nothing is set in stone and we'll have to see how far/how fast we climb, if/when we break through the 4200 barrier