Simple. Lunar phase analysis implies an 80% probability of sell-offs occurring around the time of full moon. Support is evident at $7,500 at the intersection of the purple TL, 200 day MA and horizontal S&R at a previous wave high. 1day MACD is declining below its zero line for the first time in years.
The 20% probability of advance cannot be ruled out. In this case the upper purple TL should be the target near $15,000, but the weight of technical indications point to the downside at this time.
הערה
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If the market does not push through 12K then $2,000 can print. Elliott Wave count from the ATH will be ABCDE. Whether that will be the completion of correction or just its larger degree wave [A} remains to be seen.
Hey Vincen
Glad to see someone else besides myself that pays attention to lunar activity and phases. Ironically, the exact Full Moon occurs at Wednesday Morning Jan 31 at 7:29 am Chicago time just as the Futures Market opens.
I'm looking for major support to be violated. The largest trading day we have had was on December 22. I matched that day with a trend-line and using as a similar projection to where we are from today. It is possible to go to the much lower support at 4459. The sell off will be quick so anyone wanting to buy at these levels should be prepared. I anticipate mayhem. How exciting.
liamgwallace
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@tradersnest, its not just a full moon. Its going to be an eclipse! maximum is at 31 Jan, 13:29:51 UTC timeanddate.com/eclipse/lunar/2018-january-31. Part of me hopes you are right about your predictions. You could be a new messiah!
mightytrader
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I hope so! I want to buy more at a more fair price! =)