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RE: Bitcoin - Possible ABC Correction?
Very good EW post dude! I'm aligned with your forecast as well, though 10000 USD as the bottom...I have put my buying orders around...will see
Keep working!
Very good EW post dude! I'm aligned with your forecast as well, though 10000 USD as the bottom...I have put my buying orders around...will see
Keep working!
Thank you very much! :-) Yeah, I think $10,000 might be possible too...
I'm also wondering if the .786 level may come into play? I think it will if that support line gets broken ($8650ish). $9350 seems like a very weak support level too.
It's certainly interesting to watch! Will keep at it for sure.
.786 fib level is in probabilistic terms much more difficult I guess but, it may happen... everything is possible, nevertheless it would be an amazing entry point ;-)
We have to wait and see
Yeah, it's probably a long shot.
Interestingly Mike Novogratz said $8000 could be in play: https://news.bitcoin.com/michael-novogratz-bitcoin-may-dip-to-8k-puts-crypto-hedge-fund-on-hiatus/
A friend of mine told me the article is a little out-of-whack, he didn't say "It's going to $8000" or anything like that. But that was his lowest guess. So a bit of "fake news" in the article. :-)
There are many possibilities and discernments, maybe we are just wrong, we try to anticipate next step and decision taking, that's all...
Trust in yourself, at least you are interested on learning about so, be confident.
What your and mine studies show is that it would be a very interesting opportunity to buy (or maybe not) so, place your partial buying orders according to each level, i.e. 20% at 10K, 25% at 9.5K , 30% at 9K and, why not, 50% or so at 8K ;-)... something like that, if we are wrong, perfect, if we reach some of the levels, perfect as well!!!
Yep! We can easily be reading it wrong. Even being close to right can be lucrative though. :-)
I love that method of buying on the way down! Unless it was an actual crash off course (which it probably isn't).
We'll see where it goes! I made an updated post today showing that my bounce for the target was wrong, so where I think the bottom might be probably is too haha!
https://steemit.com/bitcoin/@toofasteddie/bitcoin-pay-attention-the-correction-is-not-finished-yet
Very interesting post! I haven't tried deeper level of EW out yet. Maybe in my next one. :-)