I know you are all a bit stung in the ass by the 2013 bitcoin mtgox market cycle and but you also have to remmeber that bitcoin has had many pumps and dumps and not all of them fully retraced infect many of them saw continuation in or around the .618 fib retracement not to mention the fact that GOLD is a very similar to bitcoin and as many pro traders are aware GOLD is doing a rounded bottom and is likely to see continuation to new all time highs so you have to ask yourself is this really a bubble pop scenario ? I have to say no the technical don't lie and I see consolidation.
Bitcoin is likely to tap 10,000$ form short term resistance and test the upper 7000$'s (7200$ - 76000$) this is another prime entry I have been accumulating this panic many of my buy orders triggered at 8000$ and 10000$
My target for 2018 is still 100,000$ per coin
This correction is scary for people new to crypto but this is normal market movement for people like me that have been around for a while
Stay profitable out there!
Youtube channel with lessons on trading
BTC : 3QccfbwpF9rpm8aofADDWdtshDrXnGwZ
As i can see you are continuously changing the bottom from 11k to 10k to 9k to 8k and so on!!! but as far as elliot wave is concerned , 3rd wave is completed and its in retracement downward and this correction seems to complete after 70% to 90% downward movement!!! that will give a tentative bottom between 2500 to 5k zone!!!! So this market cycle is not over yet!!!! After completion of the 4th wave/retracement, the new market cycle will start!!!
This is only to say that it's not a "no brainer" that those markets are forming a rounded bottom, with "clear" targets of $5000 and $120; and the "pro traders" you elude to are well aware of these manipulation factors because they have done the research on the - *dun dun dun* ... *fundamentals* driving the prices of the precious metals in particular. Options markets invite foul play, and combined with an active incentive to keep the metals prices low, it is unlikely they will reach the targets you project (although I sincerely hope I'm wrong).
Now since I know you are a level-headed person, you won't take this critique personally but rather as constructive criticism since after all, knowledge is power. :)