Once the clouds broke, I was able to see the mountains clearly

4 Mar 2020

With the MACD rounding out on the daily and the price bouncing around the major resistance between ~58-63 it's safe to assume this mini ABC correction has completed and now the next Elliot wave can begin. The 3 wave will be quite parabolic and impulsive in nature which means the development of this wave will take some time most likely mooning shortly after the halving in May. For now, trust in the technicals, keep your analysis simple and set your stop losses. Also, keep in mind we still live in the real world and fundamentals still matter as well. Previous studies have shown that actual correlation percent between crypto and the market/gold is low and should not affect your trades, its a good idea to keep a close eye on things through the coming stock market downturn. Good luck everyone. I hope at least one person was able to sell-off and buy this dip based on my previous analysis. I really enjoy this community and I hope everyone here makes big gains in the (hopefully) bullish years ahead!