Most pessimistic scenario right now

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
515 0
This is the most pessimistic scenario I can think of right now. If bitcoin is not going to appreciate any longer it is possible we have just finished wave B of huge zigzag which started in Nov 2013.

First leg of this zigzag was equal to about $1000 which is 86%. Wave B (if it has just finished) stopped in the region of iv subwave within A. This is very interesting since according to Elliott Wave guidelines subwaves 4 often act as strong support/resistance zones.

Now if we are to watch wave C develop soon it is quite probable it will be equal to wave A. Therefore one could expect this drop to be close to 86% which means it could finish close to $67. Again this region is quite interesting since this would be withing subwave 4 of major bull market which finished in Nov 2013. And as it was mentioned above subwaves 4 often act as strong support/resistance levels.

If this scenario is true we can expect at least 10 months of bear market.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out