crypto's have pretty much done what I said they would do.
In December my comments we're that Bitcoin would enter a much
longer consolidation now since it broke a parabolic uptrend,
typically when something breaks down from a parabolic move like
that, the consolidation lasts for a while. You can see my
comments on the chart from Dec, this chart doesn't reflect today's
prices, Bitcoin and others are down a lot more, Bitcoin hit the
7000's this morning for a time
that's also one concern I have for the general market, while it
obviously wasn't as parabolic as Bitcoin, it did have a
parabolic-like move in the short term and thus this consolidation
might last a bit. We'll be monitoring symmetry. One
target over time could be the 50 MA's or the 61.8 Fib Steve and I
showed the last few days, otherwise obviously I'm expecting new
highs after it's done, however it could be a bit
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crypto's have pretty much done
Kryptos down, metals down, stocks down, commodities down, bonds down..... ...
Posted by matt on 2nd of Feb 2018 at 10:11 am
crypto's have pretty much done what I said they would do. In December my comments we're that Bitcoin would enter a much longer consolidation now since it broke a parabolic uptrend, typically when something breaks down from a parabolic move like that, the consolidation lasts for a while. You can see my comments on the chart from Dec, this chart doesn't reflect today's prices, Bitcoin and others are down a lot more, Bitcoin hit the 7000's this morning for a time
that's also one concern I have for the general market, while it obviously wasn't as parabolic as Bitcoin, it did have a parabolic-like move in the short term and thus this consolidation might last a bit. We'll be monitoring symmetry. One target over time could be the 50 MA's or the 61.8 Fib Steve and I showed the last few days, otherwise obviously I'm expecting new highs after it's done, however it could be a bit