This is the scenario that I am personally seeing it is currently forming for the first week of May. The momentum upwards its pretty strong so we might not even get to touch 8600 and finish our wave 5 down! But we should hopefully break down 9k at least once more otherwise we are going to be side trending for a while.
We need that 'whip' or that spring in the mid 8k's, can we all just agree to sell at the same time so we can all buy down there and skyrocket upwards?
I will be laddering my buys all the way down to 8550. With a super tight stop loss at 8400.
*** THIS IS NOT FINANCIAL OR INVESTMENT ADVICE ***
We need that 'whip' or that spring in the mid 8k's, can we all just agree to sell at the same time so we can all buy down there and skyrocket upwards?
I will be laddering my buys all the way down to 8550. With a super tight stop loss at 8400.
*** THIS IS NOT FINANCIAL OR INVESTMENT ADVICE ***
Comment:
We never made it to 8600, but got to 8850. This is a recurring pattern. Never got to 6000 but made it to 6500. We can therefore deduce that people are getting ahead of the game and buying ahead of support levels. I went all in at 9k on LTC, ETH, ADA among others. The count is still on but because we didn't go as low we need to raise up the five count one level. I will post a chart showing that soon.