Bitcoin has gone exponential and crossed an order of magnitude milestone level of $10K. From now on the moves are going to be not in hundreds but in thousands of dollars. This is a very significant event that screams even to uninitiated that the money system as we know it is dying.
There's another implication of this exponential move. For my target creation analysis, there's no the highest reference price point as the market moves from one all-time high to the other and the next day candle simply continues up from the top of the previous day.
https://www.mql5.com/en/charts/7971933/btcusd-d1-simplefx-ltd
The only predictive tool I have left in my toolbox is Elliott Waves that are arbitrary and therefore not reliable. But since I don't have anything else to bring to the table I'll share what I think is the highest probability EW count.
https://ibb.co/c2ynNw
I think we just finished minor cycle wave 5 of the intermediate cycle wave (3) of the primary cycle wave 3 of the cycle wave III. I show intermediate (3) (red) and primary III (blue) targets where they should be even though they've been clearly overshot.
If it sounds completely gibberish, for this wave count to be correct the $10K level must hold and after a correction in the intermediate cycle wave (4) the upward move will continue to a minimum of $13278 to complete the primary wave 3.
Happy to learn from you everyday. Thanks for all your info. You are super professional in your job and a very good person. All the best!!!
Thank you @piccolobonzo
Always look forward to your posts! Thank you Srezz.
Fantastic Srezz !!
srezz, what is your thoughts in this real quick 20-22%ish pullback/correction? you leaning towards that was it or it further downside is coming? thanks for the updates
Exponential markets are the sign of a panic. So, by their very nature, they are unmeasurable. In other words, both, - up and downside, are equally possible.
Today's daily pivot is @ $10066. If we lose it, more downside is coming.
I am impressed by your skills. Are you a professional analyst? Followed.
Thank you. I'm a professional trader.
Seeable. I think I'll wait for one or two days and buy eth on this dip.. makes sense?
I don't give trading advices.
Of course. Silly me. As much as I don't give legal opinions, not for free at least ;-) I'll follow your articles, keep up the good work.
Thank you srezz for your analysis and for your kind spirit of sharing.
I wanted to thank you the book recommendations. I am starting on the second book and wanted to know if you had any other books for me on my journey.
Sincerely thank you.
If you don't mind, what are books 1 and 2?
These books should enlighten you enough to chose your own path.