we just had a parabolic upwards movement and we all know what that means, tricky business. alltough this triangle has truned out very clean we should trade with caution on this one. low volume could mean massive gains but the losses come just as quick. set stop-losses accordingly.
BTC has bounced nicely from 6k but the masses are already getting excited and pushing this into a parabolic climb that seems to be capping out slowly (RSi and OBV showing signs of fatigue). Dont get stuck buying at 10k when the max it could still go could be 11k maybe. Then it will most likely retrace to 8 or 9k shortly
I know this is a crazy stretch, but what if we aren't in a long term bear market like many think, and we have one more parabolic move up before a long term (6m-1yr) bear market?
feel free to hate on it and call me an idiot :D
Note: This is not financial advice at the slightest
The price of PDC moves according to the Fibonacci sequence. It broke out from the resistance level of Fib 0.236 which is located near the point 0.0000150. According to the RSI the price is in an oversold zone, combining those factors together it should move in an ascending channel till the next resistance level and then step by step till the completion of...
As long as the old trend line holds, we are on a parabolic run in Bitcoin. Will update when new trend line might be in play. My best guess is that we see 12K and then a correction down in the orange zone around low 10K possibly 9.5K. In this scenario the parabolic movement stays intact and continues upwards with an even steeper trend. 20K before end of this year.
Are we perhaps looking at one of the greatest corrections in history? If this parabolic pattern carries out, we may be looking at a monstrous retracement of somewhere between 80% to 97%. We are far overdue on our correction, with both a bigger elliott wave soon closing out, with a smaller elliott wave within that wave, and now with the parabolic pattern on the...
Both of the major Bitcoin 'bubbles' we went through in 2013 showed parabolic growth when viewed on logarithmic scales. Most probably think we are in a bubble now, and surely we are, but how far into it are we? Was 4500 the ceiling? The big difference between 2013 and now—as you see here on this log-scaled chart of BTC's entire history—is that we have clearly not...
BTCUSD in a parabolic move
Where are we to look for a possible level for a short**
2227 is my level to look for a possible top for wave 3 in the wave up from wave minor 4.
It's too early to say where this parabolic move will end, but parabolic moves normally end with a sudden burst of the bubble.
One of the few Elliott Wave rules says: The 3rd wave can't be...
