Sticking with previous scenario - Quick update with EW adjusted
Made EW waves more precise, up to 1H of opening/closing price before direction(trend) changed and also, updated some targets for the future.
As we all know by now, SEC denies Winklevoss application for a bitcoin ETF but many bulls still firmly believe that OBOE stands better chances of being approved, because it's a much older institution, but this is irrational thinking cause one of the main reasons stated 'Was to prevent fraudulent or manipulative acts or practices (read:price manipulation)" so it has nothing to do with specific way individual institutions work or their previous history.
Based on the angle of volatility after a heavy market crash(consolidation), this should be a final selloff and the lowest and longest volatility wave downwards, before the new run starting around beginning of 2019.
Still following same scenario, with a short-position around $8650-8760 or bit higher-lower, depending on the price action.
As we all know by now, SEC denies Winklevoss application for a bitcoin ETF but many bulls still firmly believe that OBOE stands better chances of being approved, because it's a much older institution, but this is irrational thinking cause one of the main reasons stated 'Was to prevent fraudulent or manipulative acts or practices (read:price manipulation)" so it has nothing to do with specific way individual institutions work or their previous history.
Based on the angle of volatility after a heavy market crash(consolidation), this should be a final selloff and the lowest and longest volatility wave downwards, before the new run starting around beginning of 2019.
Still following same scenario, with a short-position around $8650-8760 or bit higher-lower, depending on the price action.
Comment:
+Zoom current time-frame view
