I like that all of your scenarios are short term bullish. They are a bit different from what most people are drawing.
The most popular scenarios that you can see online predict that we will fail to break resistance at 6000 and go down from there, with bears seeing it as final capitulation below 3000 dollars and bulls as a drop to 4000, failure to break previous support and another try at 6000 later this year. You see much higher prices in the near future and I hope you are right.
What is your opinion about hyperwave theory supporters who say we need another leg down before we pass 6000?
BITSTAMP quoted prices...
Have noted $5898 and $6390 as resistance levels, seeing that $6000 zone as temporary psychological resistance.
Currently thinking $6882 to $7026 may serve as technical resistance where the first notable pullback occurs.
Not studied Hyperwave in-depth, so can't comment on the theory. However, markets are fractal and so would consider 2013 as a Hyperwave top too.
At this point, another leg down below the 06-FEB-2019 low, would suggest an ongoing bear market towards sub $1000.
"At this point, another leg down below the 06-FEB-2019 low, would suggest an ongoing bear market towards sub $1000."
That would get ugly.
There is a split between people on whether this is the impulse to a new wave
or it is some sort of correction, so could break back down and
either form a higher low and back up
or capitulate again.
I wonder what you make of this chart
EOS chart which perhaps might give us a clue where the market is
the triangle for me was some 4 or IV wave
and perhaps the rise from $1.55 was an ABC
I only ask because they two assets have had a correlation for a while with only a lag in time
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