STEEM update 01.11.17 - the power of Elliott Wave and pattern recognition
STEEM/BTC dropped from 16000 to 13500 satoshi in the last hours, while BTC is mooning as I projected yesterday.
You can read about it again here, if you want:
https://steemit.com/steem/@ew-and-patterns/steem-update-31-10-17
https://steemit.com/bitcoin/@ew-and-patterns/btc-update-31-10-17-count-update
So here is another great example of Elliott Wave and pattern recognition:
Black Wave 3 seems to be done, but it can go a little lower before wave 4 is expected to arrive.
Due to the rule of pattern alternation, I expect wave 4 to take at least two days to be completed, because wave 2 was quite fast and not really time consuming.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
It's really sad to see the prices go down right after some real developments in steemit. I love the new updates done. Steemit should grow stronger than ever. But a stupid futures contracts for BTC is getting all the dumb money while driving the price down for useful relevant products.
Even ETH is having major developments + Devcon
But nobody cares. The prices keep going down. Hopefully these idiots will get burnt real bad so that the good productive useful projects could shine.
It always gets worse before it gets better. Once the weak hands have left the boat, sentiment should be able to turn around.
Seems it's probably happening with ETH and it's certainly happening with BCH.It's sad to see BTC being 58.21% of the market. Hopefully it'll shrink back to 50% very soon. Lot's of great projects have new developments coming up. China could also come up with good news.
According to the above interview, the Chinese commies are very open to blockchain tech. They just hate the "currency". So NEO, Metaverse, WTC, Bytom, Tron can have some really good growth.
Maybe you are right. But as a TA I think there are better opportunities than those you mentioned here.
Neo was one of my favorites once, but if it does not skyrocket soon, it will drop hard.
When I mentioned China I was thinking more of a mid term scale. Chinese coins may fall or go sideways. But It's very likely that there would be some positive news from China before the end of the year. If TA shows a fall, it'll certainly fall for a while. NEO doesn't even have much of ICO hype going. But positive news from China could completely turn the tables and bring back euphoria. ( Or a BTC crash could ruin the party for everybody.)
Good post Cryptocurrency is best way
Buy the dip! 😎
"the power of Elliott Wave" - this is so funny. Where was the power when you was shouting this "last time to buy cheap Steem" at the price $1,53.
I upvote you plz upvote me