DCFreak

BTC correction is over? History speaks: More correction to come

DCFreak Updated   
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Drawn lines are not to scale! and shouldn't be used to estimate prices.

So I looked at every single major correction that happened to BTC in a log scale and interestingly all of them had a similar behavior:

1)Drop
2)Rebound
3)Stronger Drop

Technical analysis is all about possibilities, and this idea is one of the possibilities based on previous corrections.
I know the majority are saying correction is over 30k$ here we come, which is one of the possibilities that I respect.

If it drops further we will be looking at something in the range of 5 to 8k$.
Comment: If you look at Gdax you will see that a lot of whales are getting out of the market selling 100+BTC.

The reason why the price follows the pattern below:

1)Drop
2)Rebound
3)Strong Drop

Is because the rebound is called bull trap, and this is to convince people that the correction is over and make them buy back, while in reality its a chance for whales to sell all of their coins to us.

Again, this is just a possibility.
Trade active: Rebound in process
Comment: Price will reach 16600$ before crashing. (just my prediction based on Jun 2015)
Comment: Everything going according to plan still
Comment: Everything is just what I expected exactly, lets see if it will keep going this way :)
Next cycle will take us to a new all time high. However, for now a correction is needed to bring in new investors. Will keep you all informed with any changes to the plan.
Comment: Get ready for it... Seat belts on :D
These coming few days will be crazy!! (Crazy either way, like if it goes up, it will go to 25k$!!! and if it goes down, it will go to 5.6k$) Either way... its great!!
Comment: I still believe in this idea..
Comment: "Price will reach 16600$ before crashing. (just my prediction based on Jun 2015) "

Called it...
Exactly following the idea.... When to buy? around 8k or 7k
Could go down to 5700$... all depends on what will happen in the next few hours.

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