Good day Hiveians!
Join me in analyzing the crypto markets!
Since the third wave has been confirmed, I have been watching the market rather closely
But maybe it's better to not do that as it is often better to just step back a bit and wait... We are sitting at a decisive moment for the whole crypto market which I already pointed out over two weeks ago. The idea that the main resistance is coming from the long trend line from last year (here seen as the upper blue line) has been confirmed. This means that if it breaks, we are going to go up - by a lot! This is not a minor deal; it will most likely decide the market movement for the next months to come. But if it gets rejected, we are going down - by a lot!
I have rarely seen the 3 wave pattern this clear in Bitcoin. We have the bigger waves seen here.
And we have the smaller sub-waves seen here. So that means that there is one final sub-wave to come. However, I have also noticed that before a decisive market movement this last fractal often changes. So I also wouldn't be surprised to not see a final third sub-wave. The movement in the next days is going to be huge - which is also evident in the extremely low volume. It normally spikes after such a downward trend.
I am currently undecided which way it will go, but I am leaning more towards a rejection for the reasons I mentioned in my previous posts. We will soon find out!
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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