Reversal Part 2
Updated
Note: if you did not see my post i made yesterday then you should look at it because it will make this one a lot easier to understand.
In my last idea I stated the timeframe in which I believed we would jump up in price and since then we fell out of the channel that I had predicted at the start (red lines) and moved above the top trend line that we where falling with.
The interesting part is that we will get to the intersection of gray lines right around the time I predicted that we would jump up in yesterday post. This makes my prediction all that much stronger
In my last idea I stated the timeframe in which I believed we would jump up in price and since then we fell out of the channel that I had predicted at the start (red lines) and moved above the top trend line that we where falling with.
The interesting part is that we will get to the intersection of gray lines right around the time I predicted that we would jump up in yesterday post. This makes my prediction all that much stronger
Note
I just wanted to mention the 20/50 day MA pending death cross that has been mentioned endlessly for over a week. I am very confident the death cross wont happen (obvious based on yesterdays and todays ideas I published. I predicted a nice increase right after day closed but my basement flooded today and took out my modem and router so I'm stuck using hot spot from my cell phone and couldn't get a post out about it. I luckily was at least able to load up long though. It looks like we could go up another $100-$300 in the coming hours but it wouldn't make a lot of sense for us to close that high so if we do go up be prepared to see a likely pullback by day close. Good news is we likely go back up very soon after anyhow.
Once the train really gets moving I think we will fly quickly to $12,000+ but I think we will still see some games played the next 1-2 days while they make it look like this death cross is coming and the lines touch or almost touch and then price flys up following day.
Note
The continued growth that I said I saw coming has continued but I still dont believe we will close the day up here atm. In fact i expect this Current 4h candle to go red and the next for sure. I will update if anything changes.Note
I personally didn't think we were gonna come up quiet this high today so unfortunately I sold off 75% of my longs by $9500. Even more unfortunate is the fact that I now see a very possible different scenario that may unfold.Their is a chance that not on do we stay at $9600 but go even a little higher for daily close. Followed by a drop for tomorrow daily candle and then uptrend from there.
Its a toss up 50/50 weather we closing at $9600+ or dropping. My gut says we close between $9425-$9475 if we drop for daily close
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