I realised that perhaps looking at individual currencies wouldn't give us accurate results of market direction. Zooming out is necessary to have an idea of market direction. Bitcoin makes up only "Half" of the Market cap, so looking at it only to figure out direction isnt 100%. Textbook Elliot wave theory says that, during a bear market, there is a three wave pattern, with the third one, being the longest and "most catastrophic". The chart above suggest that we are currently in the 3rd wave and a conclusion is imminent. I've set my buy zone for my chosen currencies (green price range)
PLEASE TAKE NOTE OF THE MARKET'S PRICE REJECTION PATTERN. WE'RE LIKELY TO MAKE A LOWER LOWER FOR 2019 BEFORE A BULLISH BOUNCE. IT IS ALSO A POSSIBILITY THAT WE COULD BOUNCE from our current levels.
PLEASE TAKE NOTE OF THE MARKET'S PRICE REJECTION PATTERN. WE'RE LIKELY TO MAKE A LOWER LOWER FOR 2019 BEFORE A BULLISH BOUNCE. IT IS ALSO A POSSIBILITY THAT WE COULD BOUNCE from our current levels.