Hi there, quick question. Comparing the second and third charts, it looks like the third has added another degree of trend which extends the drop lower, but I am not sure because the second chart only shows (3) and (4) but not (5). Are these actually variations for the orange count or is the third chart just zoomed out more? Thanks
The third is the futures chart on the CME. I attach that for subscribers who trade futures. It is trying to reconcile the BTC action even with the weekend gaps , which is dangerous but I believe the proper way to do that. Does that answer your question. The report was not posted, because we are waiting for Google to index it on our site, so I just dropped the chart. The main point is with the drop lower in a diagonal, it made orange most likely the correct count, unless we also break over $7091. Orange count projects to $3500 at the moment. What I can't reconcile at the moment is how some coins are really trying to turn. Will they ignore BTC? Or, is there something I'm missing in BTC?
Thanks, I didn’t realize that was futures, so that is helpful.
Until proven otherwise, I can’t see other coins ignoring bitcoin. They haven’t done it yet. If this turns out this way, I gotta figure those other coins morph into something with another low.
I am still holding out hope for your white count to be right though.
There's been a race condition between market movers and global adoption in countries where the currencies are on fire.
Just look at some of the recent volume over at localbitcoins in countries in South America and then ask if/when will sell pressure be overwhelmed by increasing global demand of people fleeing hyperinflation?
That's my FA calculus anyway. If it weren't for that, I would be bearish as hell.