Hello,
I am back and come with a chart that will probably surprise you.
As some may remember, I have repeatedly said that Bitcoin will break the $6,000 mark again before we see another $20,000.
This could happen now.
Currently, many are either expecting a pump to the moon or a pullback in the $7,000 level and most of the time, the opposite happens.
And the opposite would be that we crashing down.
But that's not the point now.
Let's get to the chart:
After the glorious pump to $20,000, we dropped to $6,000.
This is our Wave A from the correction.
After Wave A, we rebounded from $6,000 to $11,800, then made an ABC correction to $6,500 with a running flat in the middle, and then went back up to $10,000.
All this was our bigger ABC correction.
What follows after that is another impulse that completes the entire correction.
Exactly this wave will go so far down that almost everyone tries to leave the crypto market.
We do not have any volume at the moment, no money is flowing in and Whales will try to find a good spot here to get out.
So I do not see Bitcoin going up.
It only makes sense that we go down from here. Everyone expects support at $7,800, $7,500, $7,200 and will probably even have buy orders in these areas.
Such situations are known in Crypto too well.
None of these areas will last. We will drop that far until everyone is in loss.
It's your decision in the end what you do.
I'm out for now and am looking for a moment to short.
Everyone posts only bull charts and this is the moment when you should go out.
My personal target is around $2,000 (Which can change), but don't look at it right now.
If everyone expects $5,000, $4,000, $3,000, we will mostly go even lower until people get in despair.
Good luck and take care of yourself.
I am back and come with a chart that will probably surprise you.
As some may remember, I have repeatedly said that Bitcoin will break the $6,000 mark again before we see another $20,000.
This could happen now.
Currently, many are either expecting a pump to the moon or a pullback in the $7,000 level and most of the time, the opposite happens.
And the opposite would be that we crashing down.
But that's not the point now.
Let's get to the chart:
After the glorious pump to $20,000, we dropped to $6,000.
This is our Wave A from the correction.
After Wave A, we rebounded from $6,000 to $11,800, then made an ABC correction to $6,500 with a running flat in the middle, and then went back up to $10,000.
All this was our bigger ABC correction.
What follows after that is another impulse that completes the entire correction.
Exactly this wave will go so far down that almost everyone tries to leave the crypto market.
We do not have any volume at the moment, no money is flowing in and Whales will try to find a good spot here to get out.
So I do not see Bitcoin going up.
It only makes sense that we go down from here. Everyone expects support at $7,800, $7,500, $7,200 and will probably even have buy orders in these areas.
Such situations are known in Crypto too well.
None of these areas will last. We will drop that far until everyone is in loss.
It's your decision in the end what you do.
I'm out for now and am looking for a moment to short.
Everyone posts only bull charts and this is the moment when you should go out.
My personal target is around $2,000 (Which can change), but don't look at it right now.
If everyone expects $5,000, $4,000, $3,000, we will mostly go even lower until people get in despair.
Good luck and take care of yourself.
Comment:
It had initially scared me how many could accept this idea. Now it makes me much happier to see the whole Bulls in the comments saying that something like that will never happen. If some of you want, I can show you this correction also at Bitcoin 2014 and Nasdaq. Every correction is structured like that, but they never go the same.
You can still have a look at the other ideas for other coins, here's the overview and leave a like there if you feel for it:
Ethereum:
Litecoin:
Bitcoin Cash:
Ripple:
Verge:
Neo:
OmiseGo: