sumingu79

sumingu79

IMO, I think many traders and retailers are not convinced current pump is bullish. Also late Bulls would want to get in on a pull back. Once the real quick move up starts, retailers will come in on the last leg of the pump for a Bull trap IMO.

sumingu79

This is my primary count. I've given my bullish count but until validations are met, I will favor this accordingly.

sumingu79

I think local bottom might be in but I am not convinced the real bottom is in. Can't predict the future but for now, this is just an idea.

sumingu79

Important levels and prices to pay attention to. Wave structure has not choppy and very hard to read but levels are not difficult. If wave structures are hard to read, I rely on the levels.

sumingu79

Just something to think about. We still have massive bullish order block near the 1-1 extension as well.

sumingu79

I published bullish idea but also have bearish Idea that needs to be pointed out. There is a bearish order block near near 29-30k level that is confluent with .386 of the high of 1st macro pivot. Also, another target at golden pocket of local pivot with .386 of macro high. It would make more sense that a zigzag (5-3-5) "should" have equal size leg (1-1 extension)....

sumingu79

I am not a bull or a bear but just a chart analyst. I only look at what the chart is showing me. As of today I feel like all assets may have flashed risk on. Eth corrected in 3 waves that hit 1-1 to the dollar with correct time, when measuring with Fib trend time.

sumingu79

Bitcoin has been working it's way up with tricky price action and wave structure, where retailers and many others are convinced it will drop very soon. This price action has people waiting in sidelines and potential FOMO buying.

sumingu79

All of the important levels have been hit and currently making a strong push up.