BTC (Y20.P6.E1).Price Action explained and now what?

Dec 18, 2020

Hi All,

Price has hit the goldern ration, 1.618 and hence a strong selloff.
However we don't have confirmation and since the trend is with the bulls, what are we waiting on?

With my indicators, I'm looking for the following:

a) Bearish divergence with the WT indicator on the daily;
b) Bearish divergences on the 4 hrly and possibly the 1 hrly;
c) Looking for the green rsi to hit 50% and the grey below 50% on the daily;

All these will give us a strong signal that this is wave 3 of the macro elliot wave and the start of wave 4 which can be complex or straight forward with an ABC wave.
Just to demonstrate what we are potentially looking at. Ignore wave 5 as its a place holder.


At this point, the 1.618 makes a good case, and we saw basically 4 impulses to get there. So it is looking like that this is the top however as stated, we are not done yet as we need those 3 conditions.




All the best,

S.SAri



Bearish Divergences this year on the macro level

Dec 18, 2020

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I see a new high coming this coming week but before that, possibly low 22k.

Dec 19, 2020

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Dec 20, 2020

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sometimes we get caught up in the moment. Lets look what's happening on the bigger time scale, 6 months and yearly...
No doubt, we are going to the moon.>LOL.

Dec 21, 2020

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Dec 21, 2020

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so far

Dec 22, 2020

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Note how the edge of the fan became the pivot point to push the price up rather than down...this is significant.