Browse Symbol Stacks: $BTC: slopechart_$BTC.jpg

slopechart_$BTC.jpg

What are my beloved crypto insanities up to this fine weekend? 

20/50/200 shown. We are slightly under whatever manner of linear regression you want to slap on this unless you move to short time frames. (not shown) 

Volume is on the bear side but I can't call it alarming. (not shown) 

Fell under some moving averages, but crypto can repair that issue in the next 45 minutes on a good day. 

For anyone that is able to divine a direction from this I am jealous. I have no idea. 

Errata: Avalanche did pop 20% since a bunny showed up around here promoting it, so there is that. Of course you need to sell it right now to capture the 20%, got no idea what that one is up to either. 

You can slap a pretty fat bull channel on this thing going back into last fall, but it felt unconvincing. (not shown) 

Hat tip to Elliot Wave: Sometimes in a hot market, a B wave can surpass the recent high. Not an ardent follower, but this thing here keeps making that thought cross my mind...

Image added via SlopeCharts
slopechart_$BTC.jpg

Comments

GonnabesickGonnabesick
Re: the B wave going higher than the recent high (bull trend), it’s called an Expanded Flat. See Jan ‘18 to Mar’20 U.S. indices. 11/20/21
GonnabesickGonnabesick
Prechter, I thought, said they’re usually 4th waves, but I’m not sure about that. If it was (2018-2020), that would be the range market should sell off to test when this leg up is finally done. 11/20/21
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