i believe we are witnessing a major BTC trap, the real bull market starts on the next retrace towards low 20k and could penetrate the 20k level to 18k lowest expectation b4 reaction.
w1 and w5 are very similar in size w3 is the longest/most impulsive. w4 is twice as long as w2 higher high price while RSI diverges buyers weaker at these levels
i believe DXY is looking to retest the gap in red (103.50) once achieved, i believe the dump to 98/97 for DXY will then commence, sending the stock market into a bullish rally for most of 2023.
i believe we are looking to retest the breakout before confirming a real run. GE is one of my favorite stocks throughout 2023. the retest sends us back towards 70/69
if we did top in 5 waves up, i believe 16.3k is next this all is invalid above 17.3k
we have to reach above the yellow dotted line if we cant break above the white box i sense a drop to 16200
possible we are still in wave 5 above 17.3k we can still travel to 17.8k
VIX has a hidden bearish divergence signaling a continuation in downtrend for the VIX which is a bullish signal in the SPY to back our theories!
$3350+ in my bag. wave 1 to wave 2, impulse 3, still leads to larger target of $3800
wave 1 structure leading into wave 2 support, H&S formation while holding true to wave 2? IM LONG!
similar to the crypto outlook, i believe the STOCK MARKET is in a macro wave 5 as well. within that wave 5, i think we are currently set up pending a wave 2 retrace down from this pop we had over the past 2 days, if we can hold this support and not make a new local low on this next correction, it should be the primetime long opportunity cooking up for the wave 3...
currently i believe ETHER is in a macro wave 5. within that wave 5, i think we are currently set up pending wave 2 retrace down from this jump we had the past 2 days, upon this support, if we dont make new local lows, should be the prime time long for wave 3 within this 5th wave up to finish out the high above (BLUE) wave 3. my PT in full: $3800