Sive, regarding OP from higher TimeFrame. If you switch to H4 and make your ABC from highest point (A) 42k and with C 41.3k that's your first expansion, then next one, starting from thrust down 41.3k on Bitfinex, you will reach your OP target perfectly.
Sive, few questions regarding more DiNapoli techniques according to this analysis.
We have daily Stop Grabber, daily bearish trend and poor dynamic pressure. Why we could expect going to ATH with this conditions?
Can be red light for any cryptocurrencies (BTC deemed a financial tool for terrorist financing and the US Justice Department is going to crack down on) :
https://www.justice.gov/opa/pr/global-disruption-three-terror-finance-cyber-enabled-campaigns
I'm not an expert in Elliot waves theories as well, but what is almost always true - 4th wave is very choppy one an it looks to me like the one somewhere between your 1-2 markings.
You mentioned that after reversal deeper pullback can happen. Indeed there is also one thing that is for this option - huge CME gap @ $9600-9900. Of course it doesn't have to be closed, but usually BTC is closing gaps sooner or later. So let's keep an eye also on that.
Great job Sive, I learn...
Sive, can I ask you why would you expect such a big pullback up to $9800? Thank you. I mean, previous corrections in this swing up were shallow. Is this because we reached XOP or other reason?
Sive, I would personally add ONE more very important for gold point. Commercials are heavily long on dollar index which is strongly opposite correlated to gold. I would be really very careful going any long now.
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