Well bitcoin just won't correct.
No large correction whatsoever. I would have liked for an ABC type correction to occur, but no, it just continues pumping.
So what does this mean?
Well, Stoch RSI is healthy due to the last correction, it was enough to let StochRSI fall down from overbought.
An overlay with the 2017 rally shows, that we could already be very near the end.
If true, I expect mediocre dumps at the end of February, maybe down to 38k the lowest, and then one gigantic insane run the whole
of March, up to the peak of about 200k in late March or early April.
Yes, this sounds insane now, but look at the past rallies. In the last weeks, it grew more then in the months before that. This is where the
most action happens, so a x4 until early April is possible.
The altcoins will go berserk at, or shortly after the bitcoin top. Normally they peak 1-2 weeks later, some even 3-4 weeks later.
But not more. This could really end like this, I find it bizarre, I don't really like it, but hey, what can we do. Bitcoin does what
it likes. And we have to adapt.
No large correction whatsoever. I would have liked for an ABC type correction to occur, but no, it just continues pumping.
So what does this mean?
Well, Stoch RSI is healthy due to the last correction, it was enough to let StochRSI fall down from overbought.
An overlay with the 2017 rally shows, that we could already be very near the end.
If true, I expect mediocre dumps at the end of February, maybe down to 38k the lowest, and then one gigantic insane run the whole
of March, up to the peak of about 200k in late March or early April.
Yes, this sounds insane now, but look at the past rallies. In the last weeks, it grew more then in the months before that. This is where the
most action happens, so a x4 until early April is possible.
The altcoins will go berserk at, or shortly after the bitcoin top. Normally they peak 1-2 weeks later, some even 3-4 weeks later.
But not more. This could really end like this, I find it bizarre, I don't really like it, but hey, what can we do. Bitcoin does what
it likes. And we have to adapt.
Note
If this fractal turns out to be true, then this current dump should come as no surprise.In fact, it should correct down to 38k as we can see from the overlay.
After that, pure insanity will commence. BTC will pump straight for 5-6 weeks to 200k, and the altcoins will go crazy together with BTC, or shortly after the BTC top.
Note
Let's see which path BTC will take. Soon is decision time. 2017 or 2013 fractal. Or of course, something new, lol.Note
It still fits the 2017 fractal, but soon is decision time: 2013 or 2017 fractal?Note
So, since DXY is pumping, the chances for this scenario are diminishing, whereas the chances for a longer sideways and dumping period are increasing:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.