BTC analysis....Watch Very Carefully, when it's done, it's done!steemCreated with Sketch.

in #bitcoin7 years ago (edited)

Here is an update to Bitcoin trajectory using EW:

It's very important that once 5 impulse waves are done, a serious ABC correction happens.

Note the position of wave III; this wave is where the III is in below longer term EW chart. That means wave IV will occur and bring prices to $2,600.

When we approach the wave III top, I will blare out the warning sign to start taking SELL actions. We're not there yet. More than half way there, thought, IMHO. When this time comes, I will sell 1/3 of my positions (Bitcoin and Alts) to raise cash and buy at better prices when wave IV is done.


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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.

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Good stuff, so you think it will drop around $3,800? I appreciate the info!

I truly don't know the exact price for sure. But, once wave III is complete, a major correction is expected and I'll post a play by play on this scenario.

I don't believe that Bitcoin Cash has any real future to be honest. It could be nothing but a memory in 6 months time.

That's what they said about ETC

Yeah but Bitcoin is too iconic.

I believe this post was on Bitcoin

Excuse the noob question but what dictates the position of wave 1? Beause it follows the last major correction?

Yes, after abc correction, an impulsive 5 wave is followed. The wave 1 of this is also subdivided by 5 waves. In other words, post abc correction, I look for five waves where wave 3 is never the shortest but doesn't have to be the longest.

More can be learned at www.elliottwave.com

Thanks, I really appreciate it! Thanks for sharing your wisdom. Best Steemit user I have found this week!

I'm so glad that I follow you :-D

Thank you kindly!

Any update on Bitcoin please.

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