Theory Interpretation The Elliott Wave Theory is interpreted as follows:
Every action is followed by a reaction. Five waves move in the direction of the main trend followed by three corrective waves (a 5-3 move). A 5-3 move completes a cycle. This 5-3 move then becomes two subdivisions of the next higher 5-3 wave. The underlying 5-3 pattern remains constant, though the time span of each may vary
Could it correct back to 1-2k?! yes it COULD its had 90 percent corrections twice in its lifetime. This time may be different because its really becoming mainstream BUT. With institutional money coming in they arent fools. They are going to buy it as cheap as possible. Im not saying its going to , but its a possability we shouldent ignore and I wouldent be surprised if it did.
KhaledAbdulaziz
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@YbarraMarco, Very good words, my friend, I agree with you
We look forward to what happens
Unireal
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@YbarraMarco, I wouldn't be surprised in the least either. Bitcoin did have corrections in the past but that wasn't necessarily institutional money. I do know they've been watching it for years because I remember hearing about Monero from someone in finance eons ago (too bad I didn't know anything about crypto back then). That said, now that the real crooks are involved, and it's decentralized meaning no penalties, we can definitely be seeing more hijinx like the drop that happened this afternoon. It was too perfectly timed not to be manipulation. Only thing to do in this instance is keep an ear to the ground and when the dips happen, breathe deeply.
AbdelbssetBenali
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A good technical analysis' is a bad fundamental analysis .
Good luck bro
KhaledAbdulaziz
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@AbdelbssetBenali, Thanks my friend for your interest
Good luck bro you too
RiskyFlip
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Wow...that would be detrimental to the crypto comm
KhaledAbdulaziz
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@kikadstt, Thanks my friend for your interest
RiskyFlip
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@KhaledAbdulaziz, As trading is stalling atm i think there may be a dip form 4-5 as btc holders may start to panic...Its the first time BTC is in this range
KhaledAbdulaziz
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@kikadstt, Yes my friend is speaking correctly
When it starts to get off
The patch for the router would be great
And then start the biggest step