Bitcoin 5th Double Top and the 5th Bottom before we turn around. Bitcoin Obituaries, 308 deaths and still living.

in #bitcoin6 years ago (edited)

If we are to believe Elliot Wave Theory, this the last or 5th wave, and each wave has been a double top.

Untitled.png

They have called Bitcoin dead 308 times and it is still here, just to give you all some perspective:
https://99bitcoins.com/bitcoinobituaries/

Look at the above chart, look at what Bitcoin has been doing, we see that each time we dip in this bear market, we rise back up, double top then dip again. Each time we dip and rise again, we do not rise as high as the last time this has been forming a descending triangle. At the end of this pattern something is going to happen, and it just so happens it looks like the end will coincide with the SEC decision on September 20th. The way I see this going is, ether A we break upward and start the Bull Run, or B we get a hard rejection and break below to the 5880 support bottom and fall hard. Ether way, the price will recover in the long run and rise again higher than ever before, it is just a matter of will it happen sooner, later, or much much later...

I am not a financial advisor and this is not financial advice, invest at your own risk.
https://en.wikipedia.org/wiki/Elliott_wave_principle

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