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RE: Bitcoin Elliott Wave Update - Intense selloff about to begin?
How can a post with few dozen views manipulate the market? Plus I consider the prediction to be very accurate. I also think there is a possibility of $2000-1800 price correction for BTC.
For when? It's not enough to say the price, but you also need to mark the time. We can always come back to this post to confirm what I mean, which is opinions are worthless because they don't carry any true risk in giving them. If you had to put a deposit down to say what you think and hopefully people agree with you, I doubt you'd make that prediction. And if you did, you'd be super invested in seeing btc go down which means all your comments will push others to sell to bring it down. I've seen it before. That's the manipulation I mean,
I don't have a crystal ball. But I have a short position on BTC leveraged 5 times. If I could give exact times I'd already be mega rich. I'd say It can take upto 4-5 months to see sub $2000price range. Things could get that low in 2 weeks. I can't be exact. I can say BTC will surely go under $1000 within 12 months. That's something I'm 100% certain. If you want a time marked call: $1000 BTC within 12 months. I'll also say BTC will reach ATH (probably 7K+) before it crash to that level.
I agree that the price can swing widely as such. Seems like you are trying to pick the swings. Have you taken into consideration the interest fees in borrowing for the margin trade if it takes months to achieve it? I guess at those wide angles, you'd more than make up for it... but I mean, the probability and risk compared to say... just buying and holding btc. I'll look for it, but there are numerous studies shown that the most secure way to make money with btc is just buying and holding... not even mining it (unless that is your business).
The current market is too indecisive. If it starts shooting up I will close my position and go into Alt-coins (NEO, WTC, Monaco and few more) till I see a trend reversal. I've only held my position since Friday and that's exactly how long market has been indecisive.
In cryptos everything happen really fast. Within a week we'll see a clear upward or downward movement. When that happens I close my short for profit or loss and move on to the next trade.
HODLing is only great when you buy near a bottom. If you buy at current level it could be either fine or a good bet. BTC could easily double the current price AND crash below $2000 within the next few months. It could be Crash-ATH-Crash or just ATH-Crash. I'm leaning on the former.
It's good you have an exit plan. Keeps you from great loses.
Also, we've heard in the news of many saying had they known btc would go up, they would have bought, but it has been for years and years... there's an old saying that says "There is no better time than now". And ya... this may not be the real bottom, but it can be your bottom. 10 years from now, you will be looking at the same fractal scenario, saying it's not the bottom.
Already exited and bullish for short term. Another crash is still not out of the picture. If things stay smooth for next 2 weeks I think we'll be shooting for ATH.....then crash.