WYCKOFF DISTRIBUTION AND ELLIOT IRREGULAR FLAT CORRECTION 3-3-5
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Sometimes you have to look to the chart with an open mind, and than you see things, nobody likes to see.
Including yourselve.
My main motivation for this chart is:
1. Bitcoin blockchain transactions are in decline (see blockchain info)
2. Bitcoin blockchain adresses in use are still below the 2017/2018 peak.
3. Bitcoin USD sent in blockchain still below the 2017/2018 peak.
4. At the start of all previous bull runs, all 3 above points where above the last peak.
Including yourselve.
My main motivation for this chart is:
1. Bitcoin blockchain transactions are in decline (see blockchain info)
2. Bitcoin blockchain adresses in use are still below the 2017/2018 peak.
3. Bitcoin USD sent in blockchain still below the 2017/2018 peak.
4. At the start of all previous bull runs, all 3 above points where above the last peak.
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My idea from 2019 wat standard ABC but know I believe 3-3-5 irregular flat correction to the same point
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Oh my, that's a really interesting perspective. Just imagine this playing out while all the moonboys expect 500k per BTC. Thanks!
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@Bullbrain, that and the fact that the USD send over the BTC network + active adresses etc. is still below the 2018 top is why i think we will get a massive shake down/spring around 1K
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@Bullbrain, you may have a point. My view comes from world politics. When a nationalist president is at oval office, the crypto (especially alts and tether) are in danger but when the president is globalist, everything changes in favor of crypto if it is a bull run. So, i think it is the reason this bull run is only concentrated on btc for now. if somehow Trump stays, maybe there will be a collateral damage on crypto then what you say about massive drop is possible. it is just my guess though..
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