Quick BTC update 27.07.18
This time projection may be inaccurate. But the price is behaving as expected.
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?
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.
Awesome, appreciate the response!
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.
is that 50/62% trace of (if) this current primary wave 1?
Yes. Because if it is not primary wave 1, it is still part of a much bigger correction.
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