For some reason today the song... I like big butts has been stuck in my head... and I don't actually like big butts.. I exercise so I don't have one ;) But I have been talking a lot lately about BTC's Bottom and honestly it is a big bottom... and where we are headed from here... and before all the haters start hating... this is an opinion, mine... so you don't need to share it, or even think it is valid, but I am happy to listen/read your thoughts and ideas too.
I have this on a BITSTAMP Chart as I was too lazy to remove my lines off my other charts... sorry guys.
We are on a long term support, in fact this support has been in play since September 2016 and today BTC had a small drop down and bounce to sneak past the strong resistance from the ATH and now we have a tonne of free air with little resistance until the mid to high 4s. In terms of Pattern I look at Elliott Wave, and I have BTC in the C wave before a final 5wave down to finish Z of the overall WXYXZ pattern. IMO that means we will see a double bottom piercing the long term support and quickly moving above again.
Worst case scenario, if the long term support breaks... it is scary to see how low BTC might go, as support may not be found until much lower. But I will look at that should it happen, I don't think it is in the immediate future.
Enjoy the green while we have it, because I feel after this C wave, the bears will be back :)
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
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YES!!!!! a good sign for BTC first target hit, hoping to see a flag here :)
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BTC smashed through my targets, and in a flag now to move higher to upper Aqua target <3
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All exchanges at diagonal resistance.... it is possible to see a drop here, before a rise to target tomorrow when Futures Release <3
I don’t care about butts either. I like those who exercises for sure.
I want to be kind in my response, not trying to say you are right or wrong but just want to say why I have a hard time with btc price.
The monthly chart has had no reaction to the price drop and it just gives me a lot to think. I am expecting a bounce but I just don’t think this is the end. I still hope to see btc above 7k before a new lower price and that is purely reading the monthly chart. I think this year will get us to that range or maybe to 8.8k but doubtful we would see a price above that. I’m patient and as such I’m waiting before I buy it. I am still thinking long and I just got out of some of my positions. Good luck.
LisaNEdwards
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@ChartsOnTime, I don't think it is the end, this is C wave in my pattern with 1-5 EW still to come, where I thing we will get a double bottom or just below.
pastetico258
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muy divertido tu analisis. Pienso que va a entrar en la fase acumulativa, y se va a quedar un buen tiempo en ella hasta que haya ruptura positiva. Pero pienso que si el Bitcoin quiere ser adoptado como medio de pago, este debe tener un valor IDEAL, ninguna empresa excepto los mineros adoptarian el bitcoin como medio de pago para sus productos y servicios teniendo una volatilidad como la que tiene.
hoy 3.400 usd paga alguien por algun producto y mañana baja de precio el bitcoin a 3.300 usd. 100 usd de diferencia, perdida que debe asumir el establecimiento comercial o el empresario. Tambien se puede dar el caso contrario. Pero uno como empresario al igual que un trader, contempla primero el riesgo en vez de la ganancia.