BTC/USD Waiting for Trendline to Break
My previous Triangle pattern is still valid, but it's looking weaker by the minute and is ready to break. I'm neutral until it breaks.
I've posted my best guess on this complex correction. In terms of Elliott Wave, a complex correction tells the story of buyers and sellers battling it out all the way down instead of a decisive and violent fast crash down. Other strategies do the same, but I'm just focusing on EW for now.
It seems to fit the WXY large correction and meets up with the semi strong support of 4000.00. Let's hope this holds. If not we are looking at 1300-1500 or lower.
This perplexes me with regards to all the positive attributes and news coming out of the crypto space.
It seems the senate hearings in the US were very reasonable including Japan and Malta's willingness to get on the bandwagon. China, I believe will also cave in once they have their regulatory structure just the way they want it.
Coinbase will launch massive vaults for large institutions including an index fund. The SEC just renewed their look into an ETF. This was in the headlines today. Segwit is showing massive promise and now that exchanges are adopting it, it was a huge success. Lightning just launched main net and will slowly grow in the next couple of years.
Other projects and cryptocurrencies will be launching their platforms on main net and offer some really cool ideas. Will some fail, sure; it's called a free market (Capitalism) and their are risks. How do you think any first world country, or third world country for that matter, brought themselves forward. It was taking risks, to expand and persevere Without taking risks (money you can afford to lose) as an early adopter, you won't be able to reap the rewards if your project is successful
I warned my friends and anyone I could about futures. Isn't it odd that we topped the day futures launched. To me, that stinks of manipulation. Whether it's banks and the Fed, or large institutional players, I beleive when all the weak hands have been flushed out and after some sideways accumulation for a few weeks or months, the next bull run will be like nothing we've seen before. Well, at least to new highs. Nobody knows for sure, but after all my research, big money wants to come in and when they see blood, they will attack
I've posted my best guess on this complex correction. In terms of Elliott Wave, a complex correction tells the story of buyers and sellers battling it out all the way down instead of a decisive and violent fast crash down. Other strategies do the same, but I'm just focusing on EW for now.
It seems to fit the WXY large correction and meets up with the semi strong support of 4000.00. Let's hope this holds. If not we are looking at 1300-1500 or lower.
This perplexes me with regards to all the positive attributes and news coming out of the crypto space.
It seems the senate hearings in the US were very reasonable including Japan and Malta's willingness to get on the bandwagon. China, I believe will also cave in once they have their regulatory structure just the way they want it.
Coinbase will launch massive vaults for large institutions including an index fund. The SEC just renewed their look into an ETF. This was in the headlines today. Segwit is showing massive promise and now that exchanges are adopting it, it was a huge success. Lightning just launched main net and will slowly grow in the next couple of years.
Other projects and cryptocurrencies will be launching their platforms on main net and offer some really cool ideas. Will some fail, sure; it's called a free market (Capitalism) and their are risks. How do you think any first world country, or third world country for that matter, brought themselves forward. It was taking risks, to expand and persevere Without taking risks (money you can afford to lose) as an early adopter, you won't be able to reap the rewards if your project is successful
I warned my friends and anyone I could about futures. Isn't it odd that we topped the day futures launched. To me, that stinks of manipulation. Whether it's banks and the Fed, or large institutional players, I beleive when all the weak hands have been flushed out and after some sideways accumulation for a few weeks or months, the next bull run will be like nothing we've seen before. Well, at least to new highs. Nobody knows for sure, but after all my research, big money wants to come in and when they see blood, they will attack
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