SUMMARY
First, I'd like to stress that you don't want to miss this video analysis. It's got tons of details and scope that are beyond what can be captured in the summary. PLEASE consider watching this video...it'll be time well spent!
When sentiment is similar across the board, price chart patterns and Elliott Waves have a very high similarity index. Take for example these charts that have very similar patterns and outlook:
This is often called "ALL the Same Market" and uniform sentiment across the cryptosphere is driving this event. More details in the video.
Now, here is a chart of DOW where price had been channeling between the two grey lines. I learned long ago to never fight the trend. If you go against the trend, your profits are dead! So, the trend must be made your friend. I also drew in the lines to an upward pointing symmetrical triangle, similar to the one I've been showing for Bitcoin. For the DOW, prices breached the upper black line and has far exceeded even the notion of a bearish wick. It is becoming a blof off topping event. And this usually lasts 4-7 months! So, I think the DOW can about double!
Now, there is the chart for Bitcoin. IF prices also exceed the top white line with vigor and doesn't have any traits of a bearish wick...then we have a different story to the tune of $13,000 or maybe $15,000. Yes, that's right, Bitcoin too could also have its own blow off topping and that could last a couple months to more. I'd lean on the shorter time length side since the "Hurry Up and Wait" syndrome would call for Bitcoin to Hurry the blow off topping. I learned long ago to follow the trend and if this blow off topping is the trend, it shall be my friend.
And now, here is the short term count for Bitcoin. I believe the $6,662 is dead ahead!!
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**