NEO, This is your last chance. Will you take the blue pill (happiness and security for all) or will you take the red pill (brutal truth with a side of swing short trade).
The hour is upon us.
If NEO decides to take the blue pill then targets would be $100-$140.
On the other hand, if NEO takes the red pill then we stay in wonderland and I show you how deep the rabbit hole goes. (Very profitable short trade)
Remember, All I'm offering is the truth and nothing more.
Now to the technical aspect of the chart:
Since we have a ABC failure we head into an Elliott double combo wave (Double Three) correction.
So far it doesn't look like the final Wave Y is complete. For it to be completed we need to retrace to 45-47.
There are several confluence zones (evidence) showing why we should bounce from said range but this depends on Bitcoin.
On shorter timeframe, we can see that a descending triangle has formed and, no surprise there the targets align.
There's no point of getting into indicators since the game is being run by Bitcoin.
Let me show you the consequences of both scenarios;
Blue Pill gets us into the Primary Wave 3 which can take us into ranges of $100-$140 as aforesaid.
Red Pill invalidates the Primary Waves and puts us into track to find new lows. Will we be able to handle the brutal truth?
I've put forth both scenarios but I'm more inclined to believe that we shall see a reaction at this price range. Even though stop hunters will try to push a wick through $44.
As Morpheus would say, “I'm trying to free your mind, NEO. But I can only show you the door. You're the one that has to walk through it”
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I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
Link to this chart: https://www.tradingview.com/chart/NEOUSD/5QFkCeS8-NEO-will-it-be-the-Red-Pill-or-the-Blue-Pill/