This is way too techy for anyone without basic EW knowledge to understand, that's why I take a more simplified approach.
Interestingly, even though we interpret the price action differently, our conclusion is quite close to each other.
I would not use the futures chart for analysing though, because it is still a manipulated, low liquidity piece of sh*t banksters market, in my opinion.
Thank you for clarifying ;-)
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Simple is always good! I hear ya on the future's manipulation - alway's good to see what the squid are up to though... Ha-ha... Since I saved the chart to my desktop last week - I figured I take a crack at it.
Like I mentioned, let's hope the sh!t bankers don't begin to lead the underlying BTC index with their "futures" like they do in the gold and silver markets...
You are right. This surely the intention behind introducing futures markets. I think we should watch out for repeating price patterns shortly before the rollovers happen. I would hate to see continued downmoves at the end of each month.