You are viewing a single comment's thread from:

RE: Bitcoin (BTC) Evening Update: Primary & Alternate Counts

in #bitcoin7 years ago (edited)

Why aren't we assuming that this correction isn't a big ABCDE, and that the 5900 dip in feb was C and the subsequent impulse was D, and now we are working on E which should be lower than C.....wouldn't that make more sense? Shouldn't a lower low be primary? I could especially see a lower low given the big hands trying to manipulate price and buy in low. I trust that @haejin knows wayyy more about this than i do. Just curious if anyone sees what I'm seeing...and why i'm wrong.

Sort:  

Because nobody has a crystal ball and knows exactly what the low will be. It could be a double bottom. That's a reversal formation. These are guesses and best approximations. If you know the absolute bottom predict it now. We'll hold you to it.

Looking at the chart again it would have to go to zero with that steep of a trend line.

You're not wrong, it's just telling people what they want to hear (MOON SOON) gets you more upvotes and therefore $$$

I see exactly what you’re saying (for a month), in a way I’ve just been wishful that it wasn’t since adcde fit well in the first wedge as well, but it never really hit the top channel for the D. In the end it seems like it’s always ABCDE, still learning though. Wishing you blessings

Sign up to get 10 dollars credited to paypal instantly. http://teensmakecash.com/?ref=niitesh

Coin Marketplace

STEEM 0.24
TRX 0.26
JST 0.041
BTC 98102.63
ETH 3490.00
USDT 1.00
SBD 3.42