Quote from: exstasie on Today at 11:42:45 AM

Quote from: xxxx123abcxxxx on January 13, 2021, 04:08:32 AM

Quote from: CookieFactory on January 13, 2021, 03:33:40 AM

Thoughts on this 4th wave playing out as a few weeks of sideways (ranging between ~30-35K) action rather than making a new local low?

Its possible this Wave-4 does meander sideways for a few weeks, but still overall expecting a revisit to the 04-JAN-2021 lows.

The corresponding Wave-2 to this Wave-4 occurred in AUG-2020, and it took 4 weekly candles to play out, and it was a shallower 20% pullback.

The rule of alternation would suggest a sharp pullback in Wave 4, yes.

Sentiment feels very "Wave B" to me (as in Wave B of a higher degree ABC sharp Wave 4). Mid-June 2017 comes to mind. Everyone seems very quick to assume we're going to new ATHs immediately. Binance and Bitmex swap funding rates are already back at 0.06%. Sentiment just feels a little bit too greedy still. A sweep below $30K would shake confidence perfectly, leaving bulls out of position, setting the stage for another parabolic leg up.

Thanks for the updates, xxxx123abcxxxx. Very informative!

Agreed.
Actually I am in between Mid-June 2017 and Nov 2017. But as you said everyone seems to be very quick for the ATHs.

sedactoo+04

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