Bitcoin (BTC/USD) - Flat Correction Means Possible Bottom for Wave 2?

in #bitcoin2 years ago (edited)

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Bitcoin had a huge drop in price recently due to the 400 million dollars that was liquidated from the Mt. Gox estate. But did it create chaos in the Elliott Waves? NOT one bit. It actually couldn't have happened any better as we needed to complete the 3rd, 4th and 5th wave. Does it mean that the bottom is in? I don't know. There is no way for me to judge the bottom or top. What I can say is that from an Elliott Wave, ABC regular flat correction (3,3,5) standpoint, we could be complete. With that said IF this is the case, a reversal could ensue. If not, lets hope our support line from our previous large triangle holds.

If you want to learn more about corrections in Elliott waves I suggest you take a look at ElliottWave.net. They have a 'wealth' of information. http://www.elliottwave.net/educational/basictenets/basics3.htm

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May you have abundance in all of 2018!!

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BTC - 1BD4K7YnRejZmhddcjQceo8SHgS9F96uu1
LTC - LLJ1UamiehmRHptYKDdgXzpffJxP7rHD7

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You use Elliott waves. I use astrology. No kidding. But E Waves are more precise. Astrology is frequently more general, however there are astrologers who can pinpoint things to the very moment. I'm not that good. Anyway, lets hope it does bottom out. Astrology indicates Bitcoin will have a rough go of it for anothe 2.5 years. Government interference mostly.Blessings.

Interesting. Care to share some links on how to read it? There are multiple ways to read this world the more info we have the better.