Correction looks quite done. Futures FUD was for nothing (so far). Time to resume climb.
Two dates in December of relevance. Dec 10/11 = CBOE Futures Launch Dec 18/19 = CME Future Launch Let's say in the first round, all of the wall street boys try to bring the price down. Their attempt to ''crash'' btc ends in only a prolonged .382 retrace over a week of fighting the Beast. The CME futures launch, and the big boys capitulate to the KING, and go...
Light changes to previous plan. Wave 2 retrace was shallower than expected. Wave 4 may retrace sharper because of above. Overall target a little higher now, 12,750
Am convinced 13k will be next peak before serious retrace. Lets see how it plays out.
ETH has been following its channel closely. expecting a pullback at 488, then up through $500
ETH has been avoiding my pullback plans again and again, by just going straight up :( I hope this one comes down to the buy zone, where I will be watching for a reversal pattern to go long. (been scalping longs so far, but waiting an nice pull back to put some real cheese out there ;)
The $10k price has been thrown around ever since 8k. I think it is quite plausible, given all of the positive fundamentals. I would prefer $13k, which would be the next Fib number (peaks at 1k, 2k, 3k, 5k, 8k so far). Must admit I am working on a roadmap to $13k early 2018, but for now $10k by Xmas seems highly plausible.
Followup to my previous plan: Now I am looking for an ABC retrace. ETH looks very bull, but am out of my long from above, looking for re-entry. The green ABC is highly bullish outlook, the red ABC is less optimistic but more desirable for higher continuation. I am not very confident yet in the ABC points, will need to see what happens around one of the A's.
This run up has been 50 fib retraces If the recent 50 retrace holds, (and BCH calms the down), I am hoping for start of Wave 5 to end at $450 or so.
My previous plan is not longer being considered, as LTC went higher than expected. So new entry position is $71.00, which is the level I will be watching.
Waiting for pullback, keeping an eye on two levels
Just a quick idea to throw out there and see if it plays out at all. Not at all confident of this, but wanting to see how it plays out after the Tether FUD
Just a quick guess as to next short term move
Overall VERY bullish. But if there is some FUD tonight, I can imagine a correction as per above.
Yesterday's consolidation at the top looks almost exactly the same as Today's. So copying that area, and adjusting proportions, the projection arrives at $8400 on Tuesday. BTC history may not repeat, but it rhymes a LOT, lets see if it feels poetic over the next 24 hours.
Possible BTC pennant forming, may project another $400 on new money Monday?
Closed my longs thus far. Looking to renter in the 7850-7900 range Will look to TP at $8300 or so