BTC update 15.11.18
This is exciting to be honest. 🤑💰 I have 3 slightly different scenarios to end this wave Z and with it the entire correction of the crypto market.
The first one is actually shocking, because the low could be in, and I have not bought cheap steem yet 👎👿:
The second one means one more low to come:
The third one means two more lows to come:
This is the big pic (yellow Z equals white Z):
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I like the first one. RSI lowest in four years or so...
RSI can stay in extremely oversold or overbought for more than a month. Worst indicator in my opinion.
Yes, that's true, especially for shorter time frames, but for long term it can be a great help. Let's see, how this will come to an end. I think the end is near and not only because I wish it to be :)
The numbers are the numbers. It's doesn't know how to lier. This is something that the human bean do. Let's to see what happen...
2nd scenario is most likely to me, although there are a few charts to me that look like they have bottomed that make me think BTC May have bottomed also.
👍🙏
Btc will up again
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I really like the third scenario. Let's see how things go.
Hey,
That third scenario you show doesn't match too much with the EW rules and Fib levels, as 4 overlaps with 1 (I know it's an approximation), but if it would have the 4 not overlapping with 1, wave 5 would end up around 3600 - 3700 levels.
The other 2 also don't fit too well with the usual Fibs for waves 1 to 3...
I would say this drop to under 5500 should be taken as part of a previous bigger wave, to fit in the usual Fib levels.
But just my opinion!
Cheers.
The third scenario matches perfectly well with all EW rules. In an ending diagonal (3-3-3-3-3) it is actually a requirement that 4 overlaps with 1. Without this overlap it cannot be an ending diagonal. This is not my opinion but a rule.
Fib relationships between waves are an approximation based on probabilities. They can be much shorter or much longer than the common ratios without breaking a rule.
I am interested to see your count though. Cheers
Hey,
You were right, I didn't realise about the diagonal!
It's actually looking like the closest prediction to reality, let's see if it bounces from here or we go lower.
Cheers.