Repeating Expanded Flats?
Updated
Just a quick post here. I included this as a screenshot in another published chart shown below, but wanted to share this idea by itself.
NOTE -Expanded flat C wave typically stops either at the 1.618 or the 1.236:
- Logarithmic chart has corrected down to the 1.618 exactly.
- Linear chart shows us stopping near the center point between the 1.618 and 1.236, near the 1.427.
Original post:
Another note - I'm super bullish on DXY, which should be bearish for crypto and stock markets. For the above move to occur, I'd expect us to see DXY re-test the area around 103.
NOTE -Expanded flat C wave typically stops either at the 1.618 or the 1.236:
- Logarithmic chart has corrected down to the 1.618 exactly.
- Linear chart shows us stopping near the center point between the 1.618 and 1.236, near the 1.427.
Original post:
Another note - I'm super bullish on DXY, which should be bearish for crypto and stock markets. For the above move to occur, I'd expect us to see DXY re-test the area around 103.
Comment
The March 2020 crash/correction linear chart shows it also stopped below the 1.236, but wicked down to or below the 1.618, we haven't yet wicked that low on linear chart.Linear chart fib extension - 2020 pattern:
Comment
Linear chart fib extension - present:Comment
Strong bull divs on 3-day chart:Comment
Back at 1.618, RSI still diverging:Comment
More similarity price vs. RSI:Comment
Quick update - wondering if we might see something like this before we get our impulse up:Comment
3-day chart RSI still showing a strong bull div, but hasn't yet broken out of its downtrend. Presently approaching top of downtrend, a break that gets and stays above ~55-60 would likely be sufficient and lend confluence to the idea of a reversal here. Still some questions: do we see a new price low beforehand, or was RSI low good enough? Will a reversal give us a full recovery / new ATH?
Comment
Dropped below 1.618, weekly bull divs have strengthened:
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