If you are are curious about them, I will give you the 2 most likely scenarios at this very moment: Let's first zoom even more out, so you have an idea where we are:
As you can see we are about to make the Z-structure, which is part of a triple three combination correction. When we are done with this 11 Wave Correction Structure (WXYXZ), we can hopefully start a new uptrend again with 1-5 Up.
Here are the 2 scenarios:
1. Blue Scenario: We are on the 4th sub wave of A - Wave 4 usually retrace 23.6% - 38.2 %, why we can expect the 4th wave to hit my light red box. Remember that 4th waves are usually prolonged. This idea also matches my existing . If this is the case we still need a 5 wave down on A, and the blue B and C, hence we basically must assume that we will go lower than scenario 2.
2. Orange Scenario: We are here done with the 5th sub wave on A and are in the process of making the B-wave (in orange). What supports this argument is the Regular Divergence (look at the ) on the last Wave, which we always must have on the last impulse wave.
Please leave a LIKE and I will zoom in on the action, and give you an update soon, so we can make some money!
And we got a reversal at my red box at around 78,6 % retrace, which makes this a good opportunity to kick start our 3rd sub wave in light blue.
If we manage to do so, you can expect the waves to act as I've illustrated for you.
Thanks for following me, guys. Really Appreciate it.
We don't have confirmation for the one we are in the process of making now. It can be a Zig-Zag (535), Flat (335) or a Triangle (ABCDE).
I will follow up on this and give you a good signal later on.
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Bottom line is : people finally realised that all crypto is useless in real world. It is not a widely used and accepted currency, it is not "store of value" and despite of initial propaganda about limited amount of crypto- countless forks allows to unlimited supply, that leads to devaluation.
What we see is slow death of cryptomania.
Great Fool Theory says, that if you hold speculative financial asset, you need to find bigger fool than you to sell it to him.
I see this fall and it doesn't bother me. I'm not buying in, I'm just waiting, see how low it can go.
The problem with crypto is that it's main purpose is pure speculation. It has no use in real world.
I remember how Bitcoin advocates advertised it as revolutionary and instant payment, as storage of wealth due its limited coin number ect.
It all prowed wrong.
We have forks, and number of coins is growing. There is no limit for new alt coins creation and there is huge devaluation.There are thousands of shitcoins.
Language , terminology used is hermetic and hard to understand for average Joe.
Unfortunately, I can't use it for everyday payments.
So , what is a real use for BTC?
Ugly truth is different.