BTC update 01.04.18
New month new luck? Or should I say new month new lows?
BTC seems to be retesting its previous low @ around 6000$.
If this low does not hold strong, we will likely see the next wave down, which I already told you about a month ago:
I don't think this will be wave A though. The correction would be unusually deep for a wave A. The correction should be over once a new low is established. We should see big bull strength again after this.
They will say the bitcoin bubble has burst and it will go down to zero again. Nope, it won't.
In one of my latest posts comment sections I wrote about the 3 stages of new disruptive technology.
Cryptos are still in stage 2:
- Laugh at it (people using it are stupid)
- Fight it like it is the devil himself (governments issue warnings, controlled social media bans it)
- Accept it, because it can no longer be denied (Mainstream adoption, government wants its share of the pie)
When people realise that stage 3 might be right around the corner, it will be too late to get in at reasonable prices. Those who stick with it, and buy at the lows will be the future crypto millionaires.
To put this into perspective, shares of Facebook were worth only 18$ in 2013. After founding in 2004, it took Facebook 12 years to become a big player and a highly successful company. STEEM is only 2 years old... BTC is 9 years old...
.png)
If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
.png)
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
What do you think about this @ew-and-patterns ? wave 2 can retrace up to 99.9% if it wants, and since it never went higher than wave 1, the count would still be valid perf fibonacci and support levels.
Yup, that is a good alternate. But wave 2 does not look threewavish, which is why I favor the failed 5 over this count.
Actually it really does look threewavish (just my opinion/counting), and that would be a 5-3-5 flat (and a cute little expanded flat within it on a lower degree? not too sure now about how to count this triangle...):
(wave (iii) of circled C is not the shortest, no problem about it.)
I double checked it. You are right. Its a perfect ZigZag, with wave b being an abcde triangle. I did not revisit the lower timeframe again, so I missed it.
Thanks for the comment.
Bitte schön ! :)
I think we have lower lows before any uptrend. Previous drops have been 80% and this one is not that deep yet!
Have you ever read this: https://medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a ? Then you will never believe in a comeback, except buying and buying over years. Good luck!
It seems to be a highly complex pattern that one of the most difficult to be understood. So i wish good luck to all traders and investors :)
is this the A,B or C wave?
Agree that we are still early in the cycle as companies and governments are still announcing research into the blockchain technology. Once they see the advantages, there will be a mass adoption. This is also the first major cleanse of the asset class so expect some projects to disappear before the market begins to rebound.
Bitcoin dipped the same way in the first quarter of 2018 as it rose in the last quarter of 2017. First quarter has been finished let's hope for Bitcoin bullish tends. Keep sharing @ew-and-patterns
Good post! Perspective is always good!
So what do you see as the most probable low for BTC now before a reversal? respect your opinion you're a legend
post was resteemed by @wayforhappiness and soon you will see an amazing development in our service
post was resteemed by @wayforhappiness
post was resteemed by @wayforhappiness