I believe we have just completed the 3rd of a 3rd of a C wave on Bitcoin. It is looking like a typical zig-zag correction before a further 5th wave downward in late January/early Febuary. I do not believe this C wave will reach the expected 1:1 extension of the first bounce so I will be taking profits at the .618 and the .786, which happen to be very close to the 1.618 of the respective one waves on the minute and minor scale. A Move Below 3900 invalidates my count and I will be out of the market. I should also mention the 3rd of the 3rd wave may not yet be complete. Bitfinex did not reach higher highs with the push up on January 8th
@ReallyMe Sory mate, your chart from jan 4 looks nothing like that LOLOLOLOL
ReallyMe
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@Mtn-Dew, That's because you didn't take the time to read down. But that is probably too much to ask. ;-)
Like any reasonable trader, I update my analysis according to market behavior. Therefore you should look at the most recent chart in May and not the one from January. It doesn't make sense. Nobody can be exact about the future in numbers. But you can be right in the patterns - understand how the market moves. That's what trading is all about for me.
The reference to my idea of January 4, 2019 should show that I haven't changed my mind about the crypto market movement since the beginning of the year and stick to my analysis.
Exact numbers are not important. Understanding what is going on is the most important thing to me. YMMV
So my original idea from January 4, 2019 at which many people rolled their eyes and commented "oh no, never ever" was probably right!
Today it looks like this. We will see...