Afrikoin,
pardon my uninformed question. Does this means correction is slowly unraveling or is this bump on (for now) final ride to local top?
Volume is still relatively low, so it is quite confusing. Thank you for patience.
1. of the options i am thinking about is a head an shouldr pattern, and we just witnessed the 'head' and now head up for a right shoulder.
This is an a-b-c, so after this we will definitely try to revisit the top.
This top may fail below $1298.
This would rhyme with Vinnie's $1300 max limit
2. this could also be a 4th of a higher degree playing out. So after would be a higher 5th wave past $1298. This rhymes with the expectations people had of price before yesterday's Bitcoin Unlimited drama.
3. If we are headed for $1400, or $1600 as we expect if an ETF gets approved, then the next leg after this sell off would take us higher. And we will still be we were 24 hours before today. You know, how everyone was excited by newer newer higher historic highs.
4. This could also be an a-b-c correction of a wave (in yellow) within an ending triangle. So this would be fractals within A - then we would get a large B retrace then more down for a final C (in red). Back up in the short term, but lower down for final C
This picture below explains this point 4
Then continue on up for a higher 5th wave
*this is looking less likely because of time. We only have 7 days before march 13th. and possibly a shorter time period. SO there is less time to make more zig zags on the 3d, W.
