After this big runup and selloff, price will consolidate mostly between 3200 and 4200 I would say for the next 6 weeks or even longer. Buy at the low of the range sell at the top of the range.
I think worst dip in near future may be the end of month (deadline for Chinese exchanges to close shop). I'm also not liking Hawaii regulation on Bitcoin, although old news. It still sets precedent and nothing kills consistent gains like politicising an issue.
Price is in a Sym formation, Price is in CCC (Congestion Convergence, Centering) of two multi-day long and short trends. Debrief, shifted bar id's. New assignments on row above. Anticipating decreasing volume, price oscillating within range before arrival of monday volume and increase in volatility. Bias is currently long within non-Dom traverse of 9/15 pt1 long at FTT of prior fast pace Dom short. If current bar close below prior low, reverse short.
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There's a glossary somewhere,... That's about the best I can do, unless you have a specific question. So,... PA is in bar 3 of a lateral continuing as a Sym. Still long with bookmark in place for a reversal. Breakout in first direction by sudden reversal anticipated if increasing in volume. If vol continues to decr then lateral continues to test upper and lower boundary range.
Thats exactly the advice ive given to people, id be amazed if it blew back through 5k without atleast a few weeks of consolidation, charts just dont do that after blow off tops..... i got no dog in this fight either way, admittedly i was wrong on it, but i get asked about it all the time now, and asked about weed stocks, and its basically the same story, if BTC is legit, it will consolidate now for a month or 2 and create a base then start going back through the highs, but i would be shocked if it went straight through 5k again. People get mad at me for saying that but thats just the way parabolic charts work, at some point they need to take a breather and work out the people who chased the top.
Parabolic moves most times reverse 70-80% of the move in as quick a drop as the rise. Hasn't happened - so far. Is that what you are also telling people will happen? BTW BTC is up +45% from its lows. You do know that right?
Advanced Expert, early exit long, late reverse short for non-Dom traverse. BM's (bookmark) in place. Reverse long after open of next bar with return to +P and +V. Intermediate, hold long unless XO of current bar close of BM long. Current long is in a D type trend. The zone at the LTL after RTL pt2 and pt3 established is the best position to be on the wrong side of the market and have the smallest losses. This zone is space prior to it forming an FTT (or VE). The Failure to Traverse always occurs before a XO (crossover) of the RTL (right trend line) which if holds becomes the event BO (breakout) or if it doesn't hold then the event FBO (failed breakout). Currently short. Looking for Dominant volume to arrive. If Dom volume short, already in position, look for decr vol for profit taking and to reverse. If Dom volume long, reverse at penetration, XO of BM with current bar close. Monitoring on the weekly and the 30min would be the next step prior to trading this instrument in a consistently reliable manner.