Target Zone was hit. Waiting for the bulls... the yellow wave 2 correction should be done now.
As I already explained yesterday, we have a potential cycle low in @ 5780. And we are already seeing a candidate for a potential wave 1. We will not be able to tell, if this is still part of the correction or not until in a few weeks, but it looks solid for now.
Keep in mind that yellow wave 1 could also be wave A, meaning that it could be the start of a bulltrap. But after nearly 7 months of bad news, let's stay positive for now... stay tuned...
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Thanks for the update. To get your thoughts correct: is this your main count? bullish?
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I am neutral, but short term bullish. We need much more price data to come to any conclusion.
Next important question will be wether this move up is a 3 wave structure or a 5 wave structure.
It is a possible turning point though and most impulse waves start with uncertainty.
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Interesting - so what reflects your highest probability for the yearly low? Is that the 5755?
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I have two fib cluster zones @ 4770 and 3180 for highest probability lows, if 5780 is breached.
If we see a big corrective wave up, those targets might be reached in 2019. I am keeping track of 5 different bear counts and 2 bull.
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Ok - so is it fair to put the 4'770 as highest probability for the 2018 low for you?
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Yes, I would say 4770 - 4200 has the highest probability for a significant low.
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Ok - great. Updated that in my long term table.
But that is interesting. That means I got you wrong on the short term. I though you primary count is bullish - going up from 6'000. But that wouldn't fit you saying that the highest probability is that we go lower.
It would help me if the primary count is always reflected somehow (could be not update or just referred to in one sentence). Just an idea which might help also other followers of your great TA.
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Ok, I get that. I try to be more clear from now on.
The biggest problem is that in a prolonged correction like this, the probabilites change whenever another bullcount is invalidated.
In this case I was indeed short term bullish because I thought that the ABC could not be complete, but it turned out that it was already complete -.-
So even if we would have touched 7k again, my primary count would have suggested another low.
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Hello 👋 my friend what are you doing now?
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Upvoting you mate
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I agree! The reversal for a bull market is still not convincing..
Thanks!
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The stability I have seen in the market in these two is predicting that we are close to going for an uptrend. hope so.
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This stability scares me! lol .. Most of the time it is followed with some sort of big news to escalate a move up/down
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Basically we could go up or down. :)
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Yes. We are hoping for positive. And i am sure that crypto currency has never end. Ups and downs are the part of everything.
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Thanks for the update.
Interesting time, let’s hope for the best most profitable outcome. 😊
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