It could be one more year of bear market before that WAVE THREE to the moon party. In cash currently. Apparently it could start when SPX500 will crash in 2017 together with gold.
Stuff looks SO TRIANGULAR 3 possibilities: - (E) completed, and we will breakout 4800+ this week, - (E) will test support ~ 4200 and we will breakout before August begins - This is not triangle so it is still (B) - we will go north I don't beleive it could be mega bearish (C) forming 'cause all that QEsing in fiat. So I discard my prev idea. Holding long on bitmex.
Downtrend - S/L 0,76250, T/P 0.71500
I hope I'm wrong 'cause all that daoeth hacks scare me a bit. But all that halving and blocksize issues could kill the btc. Buy the gold, gentlemen
Hey I got this crazy idea of doing a EW count on a Renko chart
Is it good-looking (v) of 5 of (A) or just a miracle?
Height of triangle is 500/300 so we have next target 500/300*400=666 I like it.
After that BTC will die in favor of ETH or something new.