Quote from: exstasie on July 03, 2019, 11:39:37 PM

Quote from: Hope_Trader on July 03, 2019, 11:20:02 PM

At this rate we'll hit 30k in a month, and at that level, I highly doubt the parabola will end well.

It would be the 5th wave on long term charts and 5th wave is generally shorter.

I wouldn't overgeneralize there. Wave 5s can be extremely strong and this has been seen many times in Bitcoin's internals. Since Historical Wave 1 was shorter than Wave 3, it's possible Wave 5 will be the strongest wave yet. I would not discount this possibility!

Historical Wave 5 could be the vertical leg of an S-curve.

Quote from: Hope_Trader on July 03, 2019, 11:20:02 PM

Dreams of 50-100k+ may be cut short if we don't got some proper consolidation/correction.

That's true. We need this wave to subdivide in order to see significant extensions. Straight up in one vertical push would suggest a shorter Wave 5. And after that probably comes a bearish super cycle.

Cheers. I'm not so hopeful for wave 5 to be the strongest wave yet, if we don't correct and consolidate along the way.

Also I'm modelling the pattern on ETHUSD daily, not exact, but it's a typical setup - flag, pop and drop. The 5th wave out of the consolidation is a sign of euphoria, everyone thinks the trend is continuing, until suddenly it isn't and it's a rush for the exit.

There is also the upper trendline on the weekly/monthly to consider. If we keep going straight up here, that is going to be around 45k and I would expect it to get front run. I don't know the mathematical term but the market has been arcing downwards, losing momentum over time.

EDIT: also fibs, extensions etc. 30k is a good target.

The main thing is about structure, ATH and bearish super cycle could be closer than we think if we don't take a breather and I would be interested in Luc's perspective, although he does get a bit bulltarded.

Other thing is indexes are basically going parabolic, a sign of an irrational market IMO. Same story I think, might end badly.