Now, this is not TA, Just a speculation. Or actually this is TA but not the kind of TA i would make my swings or any other trades. Too much stuff in the middle to make it reliable. I just publish this for open conversation and it's nice to see if it actually goes like this in nex two months. :)
But i was asked about that Shortkill i was talking about to 9k. There it is in wave E.
There's also a ZOOM in below about the point we are now.
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ZOOM IN to waves D->E
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Not alone with this although more positive end result :)
@DoubleF, left shoulder goiing lower than the head? lol
IvanSavon
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Fundamentally, this is a difficult scenario. We take into account the fact that for large capital bitcoin is the best investment for the next 10 years.
So, if the price falls to $ 4000 and lower and will stay there - new players can quietly enter the market and buy back the cheap bitcoin. In this case, large players risk losing a huge part of their monopoly.
JoppeJoppe
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@IvanSavon, you are right about that and falling to low levels under 4k requires something drastic to happen. I dont gove much credit to news but definately falling to that level will not occure without mt.gox vol 2. One possibility is tetherstorm which i think will occur this year anyways or erc20-shitcoinstorm. One must check the price of btc before that tether scam started. But is it really a scam? Guess we will see
JoppeJoppe
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@IvanSavon, Also large capital dont like to enter this market when it's full of s..t and scamcoins like fake dollars (without calling it with it's real name). So before the legalized criminals want to enter the market (bankers, smart money etc) the unlegalized criminals have to be out of the market and possibly even to jail :).
IvanSavon
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@JoppeJoppe, I agree with that. First of all, it should not be the decision to not buy risky coins. And also increase the level of their awareness and crypto-culture. Bankers and other large investors are unlikely to invest lower than the TOP10-TOP15 crypto list. I think that at first time it will be not even more than TOP5 )
CryptoCow
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Oh, not that more positive :)
What is the bounce to 7,580?
JoppeJoppe
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@CryptoCow, A bit fractal movement added there. Blast from the past ;). You have to put some spices in the food to get one exited. I am not going to trade it like this in largers scale BUT if for some reason is see a good entry to long after 6800-6900, then i definately close that position in 7400 and see we it heads from there.
A bit fractal movement added there. Blast from the past ;). You have to put some spices in the food to get one exited. I am not going to trade it like this in larger scale BUT if for some reason i see a good entry to long after 6800-6900, then i definately close that position in 7400 and see where it heads from there.
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CryptoCow
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@JoppeJoppe, ah, like the bounce from B? Got it. At 6,800 the triangle will be violated quite heavily already, altough possible with a wick.