GTWCA-28 | The Correction Since Mid-December Has Lasted Until Now!
My dear friends.
I am Gandalf The White - focusing on btc and ada.
BTC
And btc still is going down. Pretty tiring, moreover bit disappointing.
However, one of the 'worst case scenarios' happened - xbt fell again, this time below 6k$. That means that we still are in the correction wave which started in mid-december - insane (more than six months now), I thought btc is way more bullish; this hype and its consequences actually were and are a lot bigger than "I have expected". I really hope that it goes up soon.
I mean, it looks like btc is getting ready for some bullish movement but where is it? We need a/some impulse/s.
I still have some btc from way lower lvls, but I also have bought some new btc many many weeks ago. Well, going upwards definitely would not be too bad - many people are waiting for that.
Maybe we are in a big bear trap, Idk. We will see anyway, soon, I hope.
Btc dropped to around 6k$ - minus ~500$. Below the cloud. Below the 618 lvl.
Tradingview chart - XBT/USD, daily, Kraken - one month ago:
Click on any image for a bigger version of it
Three weeks ago:
Two weeks ago:
Last week:
Today:
Explanation:
Firstly, the graph looks similar to the #gtwca "25" chart where I am/was talking about some worst case scenarios. Well, actually the first two happened. I do not want the third one taking place as well. Heres a part of this specific #gtwca:
Finally, the explanation regarding a quite awful scenario (possible but not too likely):
Explanation:
Nothing too special, simply looks like a mess because there are so many lines - well, many similar and same lines/areas as before: Time/price scale, volume, ichi cloud, green supportive trend line, red resistance lines, impulsive elliott waves (yellow and turquoise), corrective waves (orange and blue) and the black fibs [highest=0; below=.382; mid=.5; below=.618; lowest=1 (100%)].
Btc simply shoud not drop below ~6.5k$ - that is right at the starting point of the turquoise elliott wave. If it does, then many things will respectively could be different - most important: We would have to wait (much) longer until btc reaches a new all time high. The yellow "2" would be at this spot and some other lines/movements (eg. the turquoise waves) would not exist.
Even worse would be if btc falls below the orange "C" (~6k$).
Secondly, the actual description of today's chart:
-) Seven new candles, volume, five black horizontal fibs and the cloud and its lines.
-) Green supportive trend lines - three.
-) Red resistance lines - three.
-) Orange correction wave - started in mid-december, till present.
-) Turquoise elliott wave - builds the third orange wave.
-) Blue elliott wave - forms the fifth turquoise wave.
Conclusion:
The fall below 6000$ generally is and was not good for btc. Slowed it down, another time. Nevertheless it still is bullish - so do not panic. If you bought higher just hodl. You could buy now too but I would wait a little more.
Btw. some lines from last #gtwca are gone simply because they are not correct/necessary anymore.
Another btw. if I did something wrong, just correct me.
ADA
Same as btc. It never has left the big correction. It is not as bullish as I thought as well.
So, current price: ~0.12$ - decrease of ~0.04. Below the cloud...
Wow, crypto really is something else, or not. I thought we easily would be above 10k by now, concerning btc. Instead we are struggling to stay above a very important and big support. Just wait, we can only wait. And maybe start shorting again but be careful with that - bulls are gathering, I just know it but something takes them too long.
As always, be smart and do not trade with emotion! (;
Yours truly,
Gandalf The White
PS: Sorry for my bad Dari.
& I am not a qualified financial advisor or anything like that - everything here is just for educational/informational purpose; only my own opinion. Always do your own research!
#gtw #gtwca #gandalfthewhite #cryptoanalysis
#cryptocurrencies #cryptos #alternativecoins #altcoins #alts #cryptomarket #cryptocurrencymarket #cryptocurrencymarketanalysis #steemit #money #blockchain #trading #hodl
#ada #cardano
It's a wild beast! I really have no doubts longterm.. I mean, knock on wood, nothing is ever 100% certain, but in the normal course of things where bitcoin "works" and doesn't prove to have any fatal flaw or anything, there's no reason to think it won't go much higher
Just, stomaching it out and looking at like $2000 btc again will be kind of obnoxious, lol
I don't know too much about the candles and the lines and stuff 😳🤪but lmk when it's safe to come outside again kk?
It is haha - young market with huge potential. Simply thought that it would recover faster than that.
Yes, definitely long term - no doubt. Only a black swan would kill it (at least slowing it down enormously). And right again, nothing is 100%.
Lmao, that would be terrible - I would have failed so badly. I really do not think that this will happen. I mean, it can but I do not think that it will, moreover hope that it will not. :D
Haha, the second emoji is the best. Of course brother! I post every week at least one #gtwca anyway.
Ya, black swan is the term I was looking for! If there's no black swan then hard to not be super optimistic. But ya, annoying how slow the recovery is :/
#emojiking #BossOfTheHashtag
True and true again.
We can only wait.
Lol, true again. ;D