BTC has unfinished business

As long as we don’t see another 5 waves in BTCUSD, this guy has unfinished business on the way down:BTCUSDMidTermThis drop can take place at any time. Once again, in case you feel bearish – position yourself. The SL for this strategy is very clear: above the beginning of what the author thinks the 5 waves down. If we go above this level before making another 5 waves down, the count is invalidated and the trade should be abandoned too.

read the rest

Deceiving moves

The author saw and experienced many times already how the market is tricking us (the participants). Sometimes it even feels like the only reason for the financial markets to exist is to deceive the people. Especially true when one believes that the price will just continue in the current direction. As soon as you see around this kind of sentiment, alertness is required.

The move (down) we see now in ETH was needed. For the same reason, to deceive the traders. Now they are a bit scared to go long. Though it’s most probable the right idea. If not right now, then may be tomorrow. However, even after the possible rise right up to the 0.024, the next move will most probable be down again.

Ok, enough words. The charts basically remained the same as in the last post with graphics.

We will look into the updated version of BTC today. And tomorrow in the evening we will check the ETH.BTCUSDMidTerm

read the explanations and also some words on money management

Some historical background

BTC and ETH are doing well according to what we discussed in the last post. Looks like it will take day or two more before the current structures will be completed. Then we will look together into the charts again.

For today the author wants to talk about more general topics.

The history tends to repeat itself. But before we go deeper on it, we need to understand one point. Regarding the Ethereum there are two general opinions:

  • It is Bitcoin 2.0
  • It is just another altcoin

Let us first start with “altcoins”. Their price rises over quite short period of time and then crashes. Here are some examples.




read more to see where Ethereum belongs

BTC is playing big role again

As said in the last post, the author can not post charts at the moment. But text is possible still.

It looks like BTC is finishing 5 waves down. So very likely the trend has changed. Some correction up is expected. When this correction  is close to the end, we will see the optimism again.

Talking about the optimism. There is enough of it in ETH at the moment. After may be one more rise the decline should start.

Pity, the author can’t post the charts, but if you check the decline in ETHBTC from 0.034 it’s easy to recognise three waves down. According to Elliott  Waves, it’s  a correction.  Based on the depth of pessimism few days ago (finally we even saw the words about the death of Ethereum, which is for every Elliott Waves practitioner the best sign to buy) that was the end of correction. The rise (and decline) is never the move only in one direction. So the author would expect some move down and bad news for (most probably) DAO. But generally the rise should continue.

Indeed, what we experience now, is the ride full of surprises.

Enjoy it, as long as you are on the right side. Take care not to get to the wrong one.

Back to Elliott Waves

Never in his imagination could the author see what kind of “waves of surprises” is coming to us. Talking about it few weeks and then to get this…

That’s the strange and amazing aspect of Yoga. It gives the practitioner  a special “feeling” that something is going to happen. But you rarely know what exactly will it be. Possible to get the exact answers? Well, unlikely. We are all actors in a huge play. The author has a role of a writer (among other roles) and this role assumes that he is here to give the readers something interesting to read. And some ideas for how to use it in their trading, if they wish to do so. Not more. But also not less.

Just a short general notice on Ethereum in general. The author hopes that we as a community will find a way how to address two important aspects:

  • software had, has and will always have some kind of bugs
  • there will be always people trying to exploit these bugs to their advantage

If we don’t find a way how to solve these issues, there is no use for Ethereum. But the author is optimistic. There is always a solution to any problem. Let us see which one will manifest itself in the near future.

In the moment the fear and absence of buying power is quite clear. Normally the author would consider it as a clear buy signal, even without looking too much into the charts. However, we do look into the charts. And they don’t show 5 waves up on any time scale. Which is a clear warning signals for every Elliott Waves practitioner. But let us take a closer look.

read more and see few charts

Open letter to Ethereum community

Dear Ethereum team and community.

There are a lot of voices, opinions and concerns from every side.

We are (investors or some will say speculators) just part of it and aren’t going to discuss the different kinds of forks and their implications.

We just want to say “thank you Ethereum Team” for trying to protect us from the theft. And we want to ask the community to unite in this effort.

We (humans) tend to make the things complicated. But sometimes they aren’t that complicated.

The money was stolen. If someone suddenly learns how to open the door to my car or house it doesn’t mean I should just let him inside and take everything he wants. Right? The act of stealing can not and should not be tolerated in any community.

So we appreciate a lot the way Vitalik and team reacted and trying to solve the situation.

We also appreciate a lot the democratic and transparent way this issue is communicated.

For the ones who are feeling resistance to the proposed path..Try to think (for a moment) in a way like a normal Joe Doe. Imagine, this Joe Doe is about to invest some money into the blockchain project (be it on Ethereum or some other smart platform).

If our Joe Doe knows that (and we believe the news will be delivered in this way):

  • there was a clear act of stealing
  • there was a way not to let the thief go away with the money
  • there was even a clear path to recover all the stolen funds


  • the community of the people behind the Ethereum (whatever the reason) decided not to do it

he will most probably be thinking: “not going to put anything there”. And he will be right to do so. Because the bugs can happen to anyone and anytime. Rest assured, the news will mention it as well. There is no way to prevent it. At least we don’t know anyone who can write 100 % secure code.

But we have a choice how to react to anything what happens to us.

So let us make a smart choice. I believe, thinking like Joe Doe will help. Let us find a solution where he would wish to join our amazing community soon.