What??? Have a look at the chart I posted the other day. I basically stick figured this move lol. It is a typical ABC correction. To the uneducated it is sometimes referred to as a dead cat bounce. Anyway until it breaks the high this is what's happening. P.S You watch youtube videos on crypto? I posted this on Sunday: Here is the chart today:
Here is the projection based on a single (7 swing) correction. If price does not brake 44,729 and hold then this is what is happing. I didn't label all (7) swings to keep it simple...its actually (9) swings (abc)(abc)(abc) but usually the middle swing is counted as 1 swing. I also didn't include all the statistical fib levels for each point. Anyway you can see why I was surprised by you being all excited about some bounce lol...it was just the B retrace. I thought it maybe had ripped to new highs lol and I had somehow mislabeled something. Anyway at this point it looks a certainty on a single correction, then we will see if we get a double correction down to low 30's.
A dead cat bounce is when a stock plummets and has a very small bounce at the end before going lower. We are in a bull market, this is not a "dead cat bounce". But more of a consolidation. Hell yeah I do. I get all the latest rumors and news on what's going on as well as their view on the charts. (Which everything is taken with a grain of salt even the news, which the news holds more weight than the charts) This way, I don't have much thinking to do and I can carry on with my life We'll see where the chart goes. But I think it's highly unlikely we will go down to the lower 30s. Not saying it can't happen, but with all these institutions starting up and eager retail trying to accumulate, it more than likely won't happen
Yes a dead cat bounce is typically after a stock plummets but my point is all a dead cat bounce is, is an ABC correction. Most people have no clue what causes it to happen, unless they understand ABC corrections. I never said we were in a downtrend. I said price could pull back to x before heading off to ath's.