Bitcoin (BTC) Morning Update: A Healthy Correction is Good for BTC! Zig Zag (5,3,5) Correction Expected. See the analysis in this Blog!
SUMMARY
Overnight, Bitcoin (BTC) put a beautiful five wave down and now it's completing what looks to be a three wave retrace up. But, what does this mean? The below chart shows a broader red a,b,c correction currently in progress. The subwaves of red wave a is labeled to have five waves. The red b wave looks very three wavish which is befitting for b waves. Once the red b wave completes, the red c wave also is projected to have five waves. This 5,3,5 wave combination type of an a,b,c correction is called a Zig Zag.
Here is how the Zig Zag correction fits into the overall count towards $8,000 or so. The time it takes for this healthy correction to occur should also give the Altcoins their chance to run up a bit. The video has lots more details!
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
Do you think the correction is possibly done? We had a pretty big increase in price
https://imgur.com/a/oTnUZ
Yep same questioning here :(
Pretty sure im wrong now xD
Thanks for your article! DO you have any opinion on steem coin ? Why is the steem's price going down despite all the development of applications such as Smart Media Tokens and busy ?
It will be also good for ATCOINs as it is eating all its marketcap.
Hopefully, the correction will not be sharp enough to lead to an altcoin sell off, as bitcoin quickly climbed to more than 60% market cap, so profits from his last run should move in altcoin
ETH had about 2% gains in few hours. Is this a sign we may see the massive gains your predicted for ETH. It seems to be completing a wave 2 at the moment.
Based on lower price movement since the video...appears to be right into the Zig Zag you presented...nice call...you really seem to be on top of the current bitcoin movement....
Very good that you post both charts - zoomed in and out! 👍
Thank you!