BTC Bear RUN Elliot Wave Vs DXY
Redo my previous chart to have more details.
BTC v.s DXY ( 10 June 2010).
DXY at the time completed the triple tops.
BTC now forming the triple tops.
STOCHASTIC RSI
Both Stoch RSI at the time are lows, showing signs of Bears. It might look Bullish as it's going to come up, but that's the trap as it could slightly go up and down - see chart for STOCH RSI.
The Stoch RSI up and down is the Elliot Waves bouncing at key levels eg. wave 2 bounce.
ACCUMULATION
The bottom is forming or found is when the wave 5 is complete. You can tell by the DOUBLE Bottom at play in the Yellow BOX. This is the KEY area you want to accumulate if it doesn't breakdown and HOLD support. IF double bottom holds, here is where we want to be GREEDY and buy with everything you have and HODL for long term.
The BULL RALLY will be a very long GRIND, people will loose hope, depression and no one would want to talk about BTC. KEEP accumulating and HODL with money you do not need or take TP along the way.
This will takes YEARS and YEARS to play out.
TARGET IS 140k.
BTC v.s DXY ( 10 June 2010).
DXY at the time completed the triple tops.
BTC now forming the triple tops.
STOCHASTIC RSI
Both Stoch RSI at the time are lows, showing signs of Bears. It might look Bullish as it's going to come up, but that's the trap as it could slightly go up and down - see chart for STOCH RSI.
The Stoch RSI up and down is the Elliot Waves bouncing at key levels eg. wave 2 bounce.
ACCUMULATION
The bottom is forming or found is when the wave 5 is complete. You can tell by the DOUBLE Bottom at play in the Yellow BOX. This is the KEY area you want to accumulate if it doesn't breakdown and HOLD support. IF double bottom holds, here is where we want to be GREEDY and buy with everything you have and HODL for long term.
The BULL RALLY will be a very long GRIND, people will loose hope, depression and no one would want to talk about BTC. KEEP accumulating and HODL with money you do not need or take TP along the way.
This will takes YEARS and YEARS to play out.
TARGET IS 140k.
Note
This is bear run pattern or analyst. wave 5 correction pattern to play out - could end around 6-10k. Then we head for a long depression for us to accumulate.Note
Elliot wave 1 will bounce around 42k which is 0.618 fib levels.Wave 2 = 47-50k
Wave 3 = 30k zone
Wave 4 = 44k zone
Wave 5 = pending liquidity, slowly bleeding markets = 6-10k or even 4-5k.
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