BTC update 02.02.18
The chart has spoken today. This cannot be the final low in BTC, because wave 3 would be the shortest and that is impossible.
So this whole drop is likely yellow wave 3. This sharp rise after the low should be the beginning of yellow wave 4 like this:
My target for the end of this correction is within the range of 7,500$-6,000$ BTC... stay tuned...
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
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"This cannot be the final low in BTC, because wave 3 would be the shortest and that is impossible" - but you count might be wrong and then impossible becomes possible ;)
Yeah he is probably wrong :D Bitcoin will fly to 20k tomorrow ;D
Damn I'm tired of crypto blood.
Believe me boss.. The toughest crash is coming in March. If there's a colour worse than red, preserve it for that time.
The G20 summit will have a great impact on the price of btc but immediately after then things should stabilize.
Just saying
Not so sure about that. What do you think matters more? Some rich people discussing crypto or lots of greedy hedge funds and investors waiting three months for a good time to invest?
The reason I said that is cause I believe the major cause of January's dip was the China blockchain energy consumption crisis. If such could cause a visible price crash then how about many countries coming to decide whether cryptocurrency as a whole is a profitable venture or a promising trend and what losses they stand to face if they allow it in their country.
But these investors sha. Their greed also is a major concern. I know what I faced with ponzi schemes when they held the floors and made everyone temporarily rich.
The Bitcoin problem are the whales. They can easily control its price. I won't forget some weeks ago (22 Dec) when the price from 17k droped to 6k for some minutes. That was the first crypto blood I saw. And I'm sure some guys from China doubled their billions just like that- mass sale > buy the dip. What makes crypto better from the banks if they can be controlled like that?
You're right though
I tend to agree I think the downward trend is going to continue until just above gold before it stabilizes. Bitcoin allowed blockchain to enter the market but many currencies bouncing back and forth between smaller communities is probably the way of the future not some single dominant entity overwhelming the entire online marketplace like bitcoin has basically done until a few years ago. my 2 p
If you use percentage as scale, we had seen it before a lot of times. Till now its usual market behaviour in crypto. I'm confident too. Bought some btc and alts yesterday, lost 20% of this investment today, but feel very calm right now :)
Everytime i watch the chart it feels like im cutting onions.. because it makes me cry.. :'(
Hodl and some day you might have tears of joy.
love it
The depression is an opportunity for we to also make purchases at low prices, but definitely it’s going to rise
Thank you!
Would a short wave 5 be possible? Elliott Wave rules doesn't say that wave 5 will extend past wave 3 significantly.
Yes, a short wave 5 slightly above 7500 is possible as a truncated 5.
Is there a reason for truncation other than market hype?
If even the bears expect higher prices within the next week and literally no sellers are left, truncation happens.
Everybody has their own opinion LOL . no body can judge the BTC i think :P
Kinda see it same way...though, I don't think any rules are violated should we be wrong.