What to Expect... (Update: Volatility to the Max)
This is a continuation of the ETH What to Expect for the Next 2 Weeks chart, which has been fairly accurate so far. The fractal patterns I've been tracking have started to overlap with no clear distinction between the end of one pattern and the beginning of another. All I can say for sure is that those patterns, namely the Big W (Adam and Eve Double Bottom)/3 Peaks and Domed House, are definitely completing on smaller scales and bringing with it the expected breakouts in one direction or the other.
The problem is that the scope of the pattern becomes clear only once it has completed. All this has led me to two conclusions, first BTC is heading to retest 12k in the near future and the other cryptos will follow suit in whatever fashion their previous price movements would allow. This conclusion flows from the fact that there is a Big W pattern that started with the January high, and is now either at the point of creating a symmetrical triangle prior to the breakout OR about to nosedive to create a complimentary double bottom.
Following this, the second conclusion is that the most prudent approach at this point is to choose the cryptos with the most upside and HODL until BTC has reached that target. That is to say that this type of sideways action followed by sharp sudden breakouts, as well as the accompanying barrage of mixed signals, is almost too volatile to trade, even by crypto standards. For the time being, however, I'll be taking the following approach for ETH: positions will be closed as soon as the price exits the solid line, and I'll be sitting on the sidelines until the price definitively breaks in one direction or the other inside of the dotted lines. I'm almost tempted to avoid the dotted blue and red lines altogether but that wouldn't be any fun :)
Good luck and happy trading!
The problem is that the scope of the pattern becomes clear only once it has completed. All this has led me to two conclusions, first BTC is heading to retest 12k in the near future and the other cryptos will follow suit in whatever fashion their previous price movements would allow. This conclusion flows from the fact that there is a Big W pattern that started with the January high, and is now either at the point of creating a symmetrical triangle prior to the breakout OR about to nosedive to create a complimentary double bottom.
Following this, the second conclusion is that the most prudent approach at this point is to choose the cryptos with the most upside and HODL until BTC has reached that target. That is to say that this type of sideways action followed by sharp sudden breakouts, as well as the accompanying barrage of mixed signals, is almost too volatile to trade, even by crypto standards. For the time being, however, I'll be taking the following approach for ETH: positions will be closed as soon as the price exits the solid line, and I'll be sitting on the sidelines until the price definitively breaks in one direction or the other inside of the dotted lines. I'm almost tempted to avoid the dotted blue and red lines altogether but that wouldn't be any fun :)
Good luck and happy trading!
הערה
I've just been looking over my previous charts, and this possibility stood out, hitting 575 prior to the drop, however far down that goes:הערה
all the way up to the1200 line with the next push, maybe 2.
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