Winged feet from a bed of Tulips? May can be a beautiful month :-).
First step was 259. Next will be the trend line from the highs -> 350-360 depending on timing. 470 level would be next. Consolidation at the 600-676 level until weekly stochastic is above 80 and looking to top out. This will bring acceleration and the new phase change coinciding with the next visit from the merchant Mercury on May 19th - a larger wave III with...
Note the next important levels of 259ish, then 360ish, then 460ish. Once above the 460 level (and yes we will get there), more horizontal consolidation will be the course of action if history repeats itself. This will go on until the 9,3,3 stochastic trades above 80. This seems to be when miners pull back inventory just as existing shorts begin to get comfortable...
The bankers dilemma is upon us. Does one banker/trader bet that oil goes substantially lower in the next five years - note monthly chart. (Keep in mind that we have reached peak oil in the US - yes even with shale being considered. We should be following China's example with our domestic production and build a 10 year reserve). Does one banker/trader bet the...
SNB decision eve bottom and second highest volume ever on a trend line that connects the low of wave 1 of I and subsequent low of 2 of I took us into Mercury in Retrograde (1/21 - 2/11). This has given time for retrograde reflection by BTC enthusiasts and ponder the idea of being the fool. This reflection time included CoinTerra bankruptcy and fallout from the...
In symmetrical triangles, the highest percentage performance comes from breakouts in the 73%-75% range. We are at 79%. This length does not invalidate the triangle. One should be looking for a breakout above the 360 level soon. This month would still work well .
Monthly perspective on the back of the previously posted Complex Larger 2 Wave post. Possible larger 3 wave projection =e^((LN(1163)-LN(2.25))+LN(155)) = 80,117. Hang tough.
It is interesting timing for the low given the SNB news immediately following. This was a major event that speaks to the spirit of longer term significance of BTC. The smartest and most nimble Central Bank lifted the curtain. We can clearly see Toto's tail wagging. Note the weekly volume was meaningful to say the least. I think we may have completed a larger...