A tall tale of shorts rekt and longs kekt
Here's the game plan for a bullish middle-of-the-month 5 wave elliott-style reversal from the ongoing downtrend.
We've already formed Wave 1 and we are at the bottom of Wave 2.
This will destroy every short between here and Timbuktu,
while still preserving the downtrend on the macro by allowing for an extra bearish end-of-month finish.
That target zone also represents the multiple confluent high time-frame resistance level.
Even if/when we get back up to it, we ain't getting past it. Not on the first try at least.
The charts do not lie! The story is unfolding as we speak.
Hopefully I have pinpointed a correct interpretation of the story bitcoin is telling us right now.
We've already formed Wave 1 and we are at the bottom of Wave 2.
This will destroy every short between here and Timbuktu,
while still preserving the downtrend on the macro by allowing for an extra bearish end-of-month finish.
That target zone also represents the multiple confluent high time-frame resistance level.
Even if/when we get back up to it, we ain't getting past it. Not on the first try at least.
The charts do not lie! The story is unfolding as we speak.
Hopefully I have pinpointed a correct interpretation of the story bitcoin is telling us right now.
כתב ויתור
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