Bitcoin update and comparison with historic correction in 2014!
In my previous update I predicted short term upside for BTC and it did that precisely. I wrote that it's still not clear which way BTC will turn as well!
However leaving away all emotions, news, speculations, other things and looking at the chart only from technical analysis outlook I'm more bearish than bullish!
My reasons are these:
- previous plunge in (w), (x) and (y) waves was deep, but BTC didn't break the low (purple line);
- this up move looks corrective nature, so it could be another (x) wave and after this should follow (z) wave;
- bigger picture correction in 2018 is very similar to the one in 2014:
Note: This is not a financial advise or trade call, it's only my personal opinion and arrows in the charts shows just an indication of direction, not the specific points or targets!
PLEASE EVALUATE MY TIME BY UP VOTING AND RESTEEMING THIS POST. THANK YOU!
Your crypto_analyst
@andriustovis
Hi Andrius. So you are expecting it to go down again to complete z wave.
Yes, as there are indications of such move!
you may not want to compare btc with 2014.... because its not 2014 anymore. dynamics have changed drastically
Will see:) but once again thanks for critic!