I have been doing my best to learn TA in the crypto currency market. I realize that for the most part there is a lot of market psychology and speculation that drives the prices of crypto, but I have always been fascinated with Fibonacci, and now Elliot Waves!
I drew the first 5 waves up to the peak of AirSwap, as well as the bottom of the correction. I believe the first wave has already came and went, and I expect the bottom of wave 2 has already been reached. With this in mind, would it be reasonable to suspect we are on the way to wave 3?
This is my very first Technical Analysis that I have actually put money into, and I would like to see where it goes. I didn't get the perfect bottom of wave 2, which looked to be around 7800 Satoshis. My purchase price was around 8600 sats.
If you are an analyst or just love charts, please give me your thoughts!
評論
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Hit the target sell zone at the 1:1 Extension at 12647 sats! We even ventured into the 618 territory, but I am happy with the 1:1 extension. Due to the recent price dip (near crash) in BTC, wave 4 reached wave 1 territory (once the price hit below 11k satoshis, it confirmed a failed wave and the beginning of a downtrend), so this will continue into an extended correction.
Hey, I have just come around to learning about Fib and EW and appreciate your real life example, going to have some fun with this. I would've responded yesterday but AST was popping :)
matthewmorganjoh
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@Ryk_Ramen, Hey, thank you so much man!! I appreciate it. It looks like a few days after I made it we went all the way to the 618 extension, which I was very happy to see! :) But now with Bitcoin in a bust there's not much hope for most of the Alts :(