liminosse

longer term BTCUSD Elliot Wave Count

BITSTAMP:BTCUSD   Bitcoin
Through the use of past trends, TD trendline Analysis and Fib Levels i have attempted to count the past to try to see what the future could look like from an Elliot Wave perspective. I believe at this time we are in the middle of a Zig-Zag correction working to way to find a subwave 3 and 4 of the C wave which I believe could end around the $3000 mark. Around that level we may see a set of slow impulsive subwaves that will begin to gain speed the longer time goes on until we reach its peak sometime second quarter of 2019 perhaps even around the $300,000 mark. Maybe you are thinking "$300,000....you're insane" but with the billions pouring in through OTC trades and the fact we are such a small market compared to others, 300,000 should just be the start. That would give bitcoin alone around a 5.1 trillion market cap. Bitcoin currently holds around 45% of the market value, depending on the how block chain advances and adoption/acceptance happens in the next year I don't see why 10-20 trillion dollar market cap isn't possible. That doesn't mean 10-20 trillion has to be poured into the market, it would only need 500 billion to 1 trillion new money to easily hit those numbers. Big wall street investors have been calling bitcoin a scam for so long, and why wouldn't they try to get people to sell out they are business men always looking for a better price, but now they are preparing to enter the market with billions upon billions of dollars. I've tried to chart an Elliot wave path for BTC into the future although that is not what Elliot Wave is meant for necessarily and I am not a Elliot wave master in the least, I am only a student of the method. I am not a financial adviser at all, this is only for study. Goodluck and Happy Trading.

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