A lot of violence going on the past few hours, where the bears took over with a lot of . During the last few moves up, the dropped slightly, so now it has become clear that the bears were exhausting the bulls and attacked when the buying was decreasing since the past few candles on the left.
Glad i gave a small warning on the Alt’s and just before the second bigger leg of the drop happened. Alt coins were just not moving along with each move up did.
Going to keep this story short, we had have this big sell candle now, suggesting another wave down is very likely to happen. Can’t say yet if this is the start of another bear trend (on these time frames) or that this is just an correction from the 3700/4050 rally. A lot will depend on the next drop, the of it and the size of it. If the is less than the drop we just had, it could stop in that green zone and bounce up and down again. If it’s the same or more, we could see a much bigger drop.
If the 4000 breaks, this scenario is probably of the table. So you can see this as and , so making wave C down now, or we start a new impulse wave down.
Previous analysis:
Published at Thu, 21 Mar 2019 16:26:32 +0000
