Bitcoin(BTC/USD) - Just when I thought I was out... They pull me back in!

in #bitcoin2 years ago (edited)

Stop the dancing!!! At least for now! Bitcoin peaked over the shoulder and decided to head for the hills. Just when you think you are out... They pull you back in!! Seriously though, these things happen. If I had a crystal ball I would be enjoying my life, financially free, on a beach in Fiji. My goal is to read the market just enough so that I can make trades and have a greater probability of success. If you know the direction of the move and why, you are much more likely to produce a profit. It's still gambling as you just don't know what's going to happen next. Trading is not for the faint of heart!

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We hit the top of 5th wave around $11,600. This means we will have an ABC correction following. It looks like we may have a Zig Zag correction as these types of corrections have been known to have enough force to take the price down to 50-80% of the prior motive wave. These types of corrections also have enough power to weed out a good majority of the weak hands. We will have to wait and see. (Prepare for the worst and hope for the best) I am targeting the ending point of the C wave to $10,241. The neckline is severely weakened BUT still at play. Let's give Bitcoin a day or so to figure out it's next move. For now the alt coins are most likely going to have to continue waiting.

Zig Zag Examples:
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Wanted to point out that even though we didn't hit our target you can see that we are still on track as our previous call showed an ABC correction immediately following our target of $12,061.

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May you have abundance in all of 2018!!

I am not a financial advisor as this is all for educational purposes only. It is YOUR responsibility to double check, triple check to see if any of my claims are valid. If you like my content please feel free to comment, thumbs up or donate! If you become rich because of my content please don't forget GunTotnHippie is always looking for a new set of Tibetan singing bowls or the new Sig P220 10mm Legion. ;)

BTC - 1BD4K7YnRejZmhddcjQceo8SHgS9F96uu1
LTC - LLJ1UamiehmRHptYKDdgXzpffJxP7rHD7

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Ya :)

Greetings. Always good to read your computations. Blesings.