Monday, February 27, 2017

Slingshot moves! (Bitcoin)

Perhaps this image is a bit lazy, but it's good enough for this.

A slingshot move, is a term I picked up from Martin Armstrong, when a price heads in the wrong direction and suckers people in, and fuels the next rally.

The faster it recovers from the pullback of the slingshot, the farther it slingshots. 

I'm expecting the next major price action to get up into the 1500s before snapping back and gathering itself around the 1448 price 

1 comment:

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