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RE: Quick BTC update 14.07.18
I don't understand your question. Both pics belong to the same bullish scenario of a new big wave A or C or 1 upwards.
I don't understand your question. Both pics belong to the same bullish scenario of a new big wave A or C or 1 upwards.
Sorry, probably didn’t write the question in the best way.
I was asking if this is basically a short term upwards, or confirming a new upward trend, which you’ve now answered.
I guess my question comes from a place of seeing other analysts drawing potential for upwards to around 6500-7500 before an expected plunge to 4500-5000..
Yes, the low @ 5770 is a contender for a short- or midterm bottom, which might later turn out to be the bottom of this entire correction. There is no way to know that for sure now. Much more price action is needed. Maybe around christmas or early 2019 we might have a definite answer for that.
The good thing is that 62% retrace did hold strong which gives this low a good chance to be a wave 2 leading upwards from now on.
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Thanks, makes sense. Will certainly be interesting to see play out.
This correction has surely shaken a lot of people out the market already!
I’m just sitting tight and buying occasionally more here & there on low dips..