New comment from masterluc:
Apr 30: Daily SMA 200 revisited and broken up with healthy long green daily candle. I am now waiting uptrend line (@10000) to be broken to return midterm absolutely bullish bias.
Unless that I keep in mind "Bearish outcome" related idea because of last very painful dip.
Apr 30: Daily SMA 200 revisited and broken up with healthy long green daily candle. I am now waiting uptrend line (@10000) to be broken to return midterm absolutely bullish bias.
Unless that I keep in mind "Bearish outcome" related idea because of last very painful dip.
Reasonable. I can't bet on the bubble scenario myself, not yet. I think it's more likely we keep building out this consolidating range. The proportions and character of the sub-waves really supports the idea of a 2018-2021 triangle.
My trend line is closer to $11K, although in Elliott Wave, breaking that line isn't the determining factor anyway. The B-D line will form the upper bound of the triangle, and Wave D hasn't completed yet. We could even see some short-lived shenanigans above the $10.5K pivot and still come down to build out Wave E.