Hi there!
I would like to thank every kind reader for the lovely positive feedback I received from them for my last charts.
It made me very happy to see that You appreciate my work. It made me so enthusiastic that even though nothing special happened today and therefore I don't really have too much new things to say, I still wanted to post a chart, just for the fun of it :)
I have already described the similarity I see between the recent rally and 2017-2018. But I wanted to clarify for myself a bit more where we actually might be now based on this comparison - and to those who are so kind to read my gibberish.
Sorry for the somewhat lame chart, unfortunately I don't have the possibility to post multiple charts for better comparison, so I had to make it like this. But anyway, I marked my totally made-up wave count on the chart.
If I was obliged to say an opinion about which direction the market will take now, I would partially base my opinion on this similarity. Not just because the charts look similar, nothing has to be in the same way just because they are somewhat similar. I would base my opinion on the overall mood as well, the uncertainity and the confusion. You can still find the occasional mooniac-chart sometimes, but in general, the mood is not so bright and euphoric now as a few weeks before. The prices which were never to be seen again appear as an ideal jump high up now. There is beginning to be an awkward smell in here. And then the basic signals on the weekly chart. As said, I wasn't able to post multiple charts at the same time, so there is no weekly here. But please just check at least the MACD on the weekly if nothing else. Then You might get a feeling that the little curved line which obviously points downwards from a relatively high point would take quite large price rise to be directed upwards again. As is the mood. I think it would need a bigBiGBIG buy and pump to get people enthusiastic again. Of course a strong jump above 10k would lighten up the room a bit, but I think it wouldn't trigger an enthusiastic buy from small investors. It would take a pump near or above 11k in my opinion.
As we saw in the past and in recent days, anything can happen anytime, even a 1500 USD pump, even in 5 minutes. But unless this big pump happens, I think that we might be getting near to a dump.
I would like to state that this is absolutely NO professional trading analysis, wave count or whatsoever. As written in the title, tihs is just me playing around with imaginary waves. So please don't base Your trade on this chart alone.
I would like to recommend once again to look at the very professional analyses of the experts who I follow. You will definitely find more technical knowledge there, and might get some inspiration as well.
As I mentioned before, I know and admit to You and myself that my classical trading analysis skills although I have some, fall very far behind of those professionals who You can find on this site. That's why I don't even like to involve many technicals, and that's why I write about subjective thoughts, psychology, and what I think is "common sense".
THE MOST IMPORTANT:
I would like to compensate for the bad mood that viberates from this little post, and for not showing too much new info compared to what I already have posted.
So I drew a cute bug on a branch lifting a truck in the middle.
And now it's time to have some pre-dinner bigfish snack. It's good for You...
You know who I am citing? :)
See You soon, and thank You very much for reading!
I would like to thank every kind reader for the lovely positive feedback I received from them for my last charts.
It made me very happy to see that You appreciate my work. It made me so enthusiastic that even though nothing special happened today and therefore I don't really have too much new things to say, I still wanted to post a chart, just for the fun of it :)
I have already described the similarity I see between the recent rally and 2017-2018. But I wanted to clarify for myself a bit more where we actually might be now based on this comparison - and to those who are so kind to read my gibberish.
Sorry for the somewhat lame chart, unfortunately I don't have the possibility to post multiple charts for better comparison, so I had to make it like this. But anyway, I marked my totally made-up wave count on the chart.
If I was obliged to say an opinion about which direction the market will take now, I would partially base my opinion on this similarity. Not just because the charts look similar, nothing has to be in the same way just because they are somewhat similar. I would base my opinion on the overall mood as well, the uncertainity and the confusion. You can still find the occasional mooniac-chart sometimes, but in general, the mood is not so bright and euphoric now as a few weeks before. The prices which were never to be seen again appear as an ideal jump high up now. There is beginning to be an awkward smell in here. And then the basic signals on the weekly chart. As said, I wasn't able to post multiple charts at the same time, so there is no weekly here. But please just check at least the MACD on the weekly if nothing else. Then You might get a feeling that the little curved line which obviously points downwards from a relatively high point would take quite large price rise to be directed upwards again. As is the mood. I think it would need a bigBiGBIG buy and pump to get people enthusiastic again. Of course a strong jump above 10k would lighten up the room a bit, but I think it wouldn't trigger an enthusiastic buy from small investors. It would take a pump near or above 11k in my opinion.
As we saw in the past and in recent days, anything can happen anytime, even a 1500 USD pump, even in 5 minutes. But unless this big pump happens, I think that we might be getting near to a dump.
I would like to state that this is absolutely NO professional trading analysis, wave count or whatsoever. As written in the title, tihs is just me playing around with imaginary waves. So please don't base Your trade on this chart alone.
I would like to recommend once again to look at the very professional analyses of the experts who I follow. You will definitely find more technical knowledge there, and might get some inspiration as well.
As I mentioned before, I know and admit to You and myself that my classical trading analysis skills although I have some, fall very far behind of those professionals who You can find on this site. That's why I don't even like to involve many technicals, and that's why I write about subjective thoughts, psychology, and what I think is "common sense".
THE MOST IMPORTANT:
I would like to compensate for the bad mood that viberates from this little post, and for not showing too much new info compared to what I already have posted.
So I drew a cute bug on a branch lifting a truck in the middle.
And now it's time to have some pre-dinner bigfish snack. It's good for You...
You know who I am citing? :)
See You soon, and thank You very much for reading!
You have to widen the chart a bit to see him :P