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RE: BTC update 08.02.2020

in #btc4 years ago

Nice update and counts! However the ending diagonal pattern, the stagnating RSI and the weakening MACD have me skeptical about any sustainable surging in the short term, IF this was to occur. In my humble opinion, it would be way healthier to have a small correction down to the $8600-9000 range.

I've already cashed out some profits, just in case...

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I see what you mean but this is not an ending diagonal because the wave structure is clearly 5-3-5-3-5
and not 3-3-3-3-3.

You may be right on the counting, even if I think this is debatable. However I'm still willing to pay strong attention to the shape of the pattern itself and see how it plays out. I guess it's just a matter of "be fearful when everybody gets greedy" in my head at the moment.

On the daily, I don't see this as being too farfetched:
abcde.png

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