If we take the all big picture of BTC since 2011 in a Weekly chart, we will notice some interesting things.
- It seems like the upside run for BTC might be in the end of a 3rd Wave impulse out of a 5th Elliot Wave Cycle.
- If you look closely to the Stochastic, you will see that at the end of the 1st Wave, the indicador shows it was oversold, giving a sense that it will continue growing, but it didn´t, instead, it start what was the 2nd Wave, the same scenario that we are having right now (As it is shown in the 2 white circles).
- The 3rd Wave meets a very important rule on Elliot Wave analysis that it can´t be the shortest Wave of the cycle, it is longer than the 1st Wave.
- The Volume Momentum indicator of the Weekly analysis seems like after a huge buying period, it is starting a selling momentum (As it is shown in the white circle).
- This may match with all the turmoil and turbulence the cryptoworld will live this year with governments trying to regulate the market.
BTC and all the cryptoworld is here to stay, but we may be entering in an all year corrective period that might result in BTC going down during 2018 to start a 5th Wave an continue it way up after the market starts to consolidate and it become a more regulated scenario.
Just because you are trapped in a bad short, stop posting bogus analysis with misleading Y scale bar.
Pepe0722
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@willisuh, This is a free space where traders can post what they see in the market, this is not an advice. Of course it is in log scale because it is the only way to see a complete picture of the long term. I am only analyzing what history has left us and what I see, that´s all, if you don´t find it useful, or don´t agree it´s fine, that is why every one is SELF RESPONSIBLE to do their own analysis and trades.
PS. I´m long on BTC and XRP. Don´t shout what u don´t know
@willisuh, looks like you are the one trapped buying the DIP at 19k..maybe you should stop looking at charts and better keep holding your bag LOL !!
Pepe0722
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@willisuh, Heeeey, it has been almost one year since this, what you think now, bogus analysis? Hope you didn’t stay trapped in this. Make a better analysis next time.
Pepe0722
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@willisuh, Hey, how are u doing? how has been your trading this last 2 years? still waiting for 19K to happen again?, Relax, we are close, 2 or 3 months, do not despair, be patient XD XD XD. How u have seen the market? u still think this analysis was to "bogus"?, hope you have learned something from the market crashing your mouth and hope u haven´t lose too much money.
I´m here if you need some advice to trade, newbie XD XD.
Pepe0722
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@willisuh, Almost 2 years, what a fucking roller coaster, how is your trading going? are you a millionaire now? haha XD. At least if you didn´t sell your bag too early you are 100% up now. Keep looking the market close, and try not to get trapped on the top this time hahaha.
Exercise-Discipline
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Good work
Pepe0722
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@TanayUK, Thank u, let's see what crypto has for us.