Quick BTC update 27.07.18

in btc •  3 months ago

This time projection may be inaccurate. But the price is behaving as expected.

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Blue wave 3 target is 8800-8900. If true, August may be another boring month, but September will be interesting... Stay tuned...

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Excited for September after reading this :)

Hey EW,

Can you shed a bit of light on why the alts are lagging behind BTC bullish impulses in comparison to previous bull runs?

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This is not a real bullrun yet, rather the necessary preparation for that. I think when big wave 3 arrives, alts and BTC will exceed our expectations.

There is not much "fresh" money entering the market yet. It's rather redeployments so alts suffer a bit. After wave 2 in BTC, alts will be very cheap so I will buy some. But what we don't want to see is permanent inverse correlation (alts only rising when BTC plunges) because this would be bad.

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Awesome, appreciate the response!

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Also be aware that there are still a few bearish scenarios left, even if this rally takes us to 13k in the short term. We need to see a clear wave 2 correction (best case would be 50 or 62%) in the coming months, or BTC will likely drop below 5700.

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is that 50/62% trace of (if) this current primary wave 1?

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Yes. Because if it is not primary wave 1, it is still part of a much bigger correction.

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