Hi everyone,
Wow, what a drop!
Thanks for viewing. My EW count indicates that BTC decline is finishing. I say finishing, because the full five waves have formed but after a brief (wave (a)) increase there will be the wave (b) (sorry I'm not too dogmatic about my EW wave degrees - just showing degrees - label them what you like) decline, which shouldn't go below the wave v (v), 5, C low (but may be there or thereabouts) in the $3200 range before wave (c) starts upwards. I expect that after wave (c) we won't see price decline right back down to make a new lows in the $3200 levels and we will form the basis of a new impulse wave upwards.
After wave (c) price may move sideways for a while, we may also see some inside candles while we decide on a new direction - or the change could be swift. It all depends how many people step in to accumulate at this point. While I am charting BTC I will be going long on ADA (down from $1.20+ highs to my buy zone at sub USD 0.03 (what a ridiculous bargain), ETH (sub in the $90 region), XRP too (anytime it drops below $0.31 - a 91% discount for Christmas - and the token with the most short-term upside (it already has wave 1 up and wave 2 finishing for an impulse move up for +300% at normal (no extended waves) fib extensions) in the top 10 (although generally I am not a fan)), LTC below $25 (93% discount), ETC below $3.60 (92% discount), and maybe XLM too anytime below USD 0.12 (77% discount - less upside but a safe trade).
This is - in my opinion - the end of the bear market and represents a dramatic capitulation from the 6k range. Good luck everyone, protect those funds. I will be putting my money where my mouth is, and those that recognise this for what it is (a deep deep discount just before Christmas) will be too. Unexpected events aside, I don't expect we will be seeing these price points again.
Wow, what a drop!
Thanks for viewing. My EW count indicates that BTC decline is finishing. I say finishing, because the full five waves have formed but after a brief (wave (a)) increase there will be the wave (b) (sorry I'm not too dogmatic about my EW wave degrees - just showing degrees - label them what you like) decline, which shouldn't go below the wave v (v), 5, C low (but may be there or thereabouts) in the $3200 range before wave (c) starts upwards. I expect that after wave (c) we won't see price decline right back down to make a new lows in the $3200 levels and we will form the basis of a new impulse wave upwards.
After wave (c) price may move sideways for a while, we may also see some inside candles while we decide on a new direction - or the change could be swift. It all depends how many people step in to accumulate at this point. While I am charting BTC I will be going long on ADA (down from $1.20+ highs to my buy zone at sub USD 0.03 (what a ridiculous bargain), ETH (sub in the $90 region), XRP too (anytime it drops below $0.31 - a 91% discount for Christmas - and the token with the most short-term upside (it already has wave 1 up and wave 2 finishing for an impulse move up for +300% at normal (no extended waves) fib extensions) in the top 10 (although generally I am not a fan)), LTC below $25 (93% discount), ETC below $3.60 (92% discount), and maybe XLM too anytime below USD 0.12 (77% discount - less upside but a safe trade).
This is - in my opinion - the end of the bear market and represents a dramatic capitulation from the 6k range. Good luck everyone, protect those funds. I will be putting my money where my mouth is, and those that recognise this for what it is (a deep deep discount just before Christmas) will be too. Unexpected events aside, I don't expect we will be seeing these price points again.
評論:
Wave B complete, wave C now starting