We appear to be at the end of a 3rd wave and in need of a major correction which is quite normal for the next legup. We are headed to the first support at 8200 or so and may have bounce up to top of the channel. We are in the C wave of an and it will go below 10k. But if this is Winter than that will be just a part of a larger A wave.
Wave 2 Correction - 1 year (Red Channel)
Wave 3 Bull Run - 2.5 years (Blue and Pink channels)
Wave 4 correction - 6 months? (Red channel)
Summary: I like it when multiple chart patterns have a similar conclusion, both the channel pattern and appear to point us towards a long winter, maybe not as devastating as the initial one in 2014, but quite harsh.
Now you will see News, Bans, Regulations, Scams coming in to support our pattern. Indian govt and banks are already squeezing out the Exchanges and major investors. There was a major discussion in parliament calling for a ban on Bitcoin .
This is 4th Wave, the last winter before the real Crypto days start IMO .
You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
I love these words. Helps me to be grounded and humble. Everyone is trying to beat the crypto market. My goal for 2018 is to survive, that is good enough!
1) Did you take out your initial investment from Crypto into the real world?
2) Did you take some crypto profits into FIAT?
More details and other charts are added in above article due to space constraints here and to continue my experiment of people using Crypto to read. This includes
I will highlight which strategies I applied now
I will add more details and visual cues to the above MACRO (multi-year) chart
I will add a super MACRO chart with monthly view
I will add different chart patterns using channels and
We will also see a zoomed in chart as well
We will also cover the possibility that I maybe wrong with charts to support.
Disclaimer: Please do your due diligence before investing in Cryptos. Trading is much more complicated than investing and my observations are more tailored for the latter with a mid to long term view. In the market you are right until you are wrong. Have a good strategy in place and protect your CAPITAL always.
"missed opportunities are better taken then rotting in a position. " can elaborate on this? Thanks