Hey Steamians and cryptolovers,
I would like to show some evidence pertaining to what could be a possible reversal happening now.
Below, is some Elliot Wave and Technical Analysts that suggest this turn a around may have happened according to this count.
The Count I had before today:
The above was using the mid trend line in the descending channel and doing a wave count to guess a wave trail. I just Trendlined the whole wave count and it gave me a descending wedge. Usually a pattern that signals turnarounds.
Below is a chart where I have the Cycle degree and Primary degrees mapped out.
We see both indicators forming divergence...This is actually happening on every time Frame down do an 1 hour frame.
We see that the red Cycle degree is counting wave 2...which means we should see a big wave 3 cycle degree ahead. It is also matching up with the Blue Primary trend count as it should be ending its Wave 2 also.
Below is a 4 hour chart showing divergence and ending counts. We also see price Poke above the descending red trend line.
We see all the counts lining up. and The price action thru the top trendingline. Lets go to an hourly chart.
Once again we see divergence and ending counts.
So that is my evidence of a reversal this time...I know I called for one about a week ago which I ended up being wrong. However this new wave count matches up very nicely and lots of divergence on the indicators compared to price. We should see a challenge of the Top trend line in the next little bit here. If it can close about 10500. we should have the reversal completed.
And from there...really aggressive buying taking place.
Also for everyones knowledge. I recently purchased palm beach confidential subscriptions. In the reports teak talks about 5 trillion dollars about to flow in this market this year. Starting to take place in May. If that happens Forget 40 grand bitcoin. you will see 100 grand bitcoin.
This might be a repeat of what happened in December except bigger.
When they made bitcoin futures on dec 6 or something like that... There was a build up in price during October and November for bitcoin. I expect to see something similar but much quicker. Just because there is a lot of third waves commencing according to my count. Both Cycle and Primary Degrees. I can even do a super cycle one that goes back to inception. Looks like this
So fingers crossed and lets keep watching the price action. I started writing and price was 8150. and now is currently at 8400. Finger crossed.
Thanks for reading. Please Upvote.