If the DXY is going to reject this seems like a logical spot.
I'm looking for the C wave to complete this leading expanded diagonal. Anywhere between .50 and .33 is a sweet spot for me. Afterwards I'm expecting the 3 of the Macro 3 wave so buckle up. The time is nigh.
If we don't get a new low bellow .51 we have to assume this move up from the low of .51 is a 1-2 of its own. If that is the case we would be working on the wave 3 of a wave 3 of a wave 3. Which I would expect to be very explosive. We have a lot of confluence between the 3 fib extensions. If .51 is broken then I would eliminate the red count and would have to...
Just throwing this out there. On top of what is on the chart you can see the declining volume and all major indicators have put in lower highs since the initial macro wave 1 pump.
You can see the previous 2 reversals have happened near or at the golden pocket. The same region for the current move up would place us around 11k.
Looking for a "C" wave to complete the "X" wave. Should get 5 waves up from here.
I believe we will see mid to upper 4000's but I think this is just an ABC wave 4 up. It's in my belief this bear market could go into October of next year but it's nice to see some green!
If this breaks out then we could see a test of the neckline on the bigger inverse h&s.
Okay it's nice to get some relief but that's all that it is. If you don't trade you better have a great mentality for the next 1-2 years. However there is plenty of money to be made off of swings. Good luck and hope all is well!!!
Wave 3 hit the 1.618 (BLACK) on the nose. If wave 4 hits the 0.382 retracement (RED) of 4800 then we will see 2300 after that. if we get up to the 0.618 retracement (RED) of 5781 then we should double bottom around 3200. Stay safe and good luck!
Weekly just closed and there are a couple of things I want to point out. 1) Last 2 times stock RSI was this low was the last to uptrends we had. 2) Bullish divergence with lower lows on price but higher lows on OBV. I expect a bounce here with BTC at least in the mid term and long term is yet to be determined.
LTC looks to have some bullish divergence on the daily as the OBV is putting in higher lows while the price is putting in lower lows. Needs to get back above $101 as quickly as possible but with us being at the bottom of the BB and the bullish divergence I could see this bouncing from here. Also still a lot of day left but trying to put in a hammer on the daily!
Bounced off the bottom of the wedge two days ago and looks to be strong support.