The shootout started

First bad news. Our “community” effort didn’t work out this time, the count for ETH, mentioned in the last update, is invalidated by now.

The author needs one more night to consider what could be the pattern we are having now.

And here comes the second news.

Some of our big predictions came true..

As expected, BTC is falling hard. The author kept posting the charts and warning of this pending decline regularly and even advised directly (quite rare action by itself) “if you feel bearish, position yourself. Drop can happen anytime” in this post already on the 30-th of June.

And, most importantly, the final battle and big shootout, as predicted in the last literature-style update, definitely started..

Get ready, it will become even more crazy. Expect first the sentiment (euphoria) madness in ETC reaching the absolute high (and corresponding depression in ETH) and then “unexpected” reverse.

Ok, time for charts. ETCBTC is a crazy pair now. We were able to identify precisely where the retracement before this actual rise should end. Could we also identify where this rise will stop?ETCBTCShortTerm

It seems to be the most likely scenario that we will see the top for ETCBTC at around 0.065

However, we will need to check the sentiment at this level. In case we go higher and the crowd is still not 99 % sure that ETC is the winner and ETH will slowly die, the next stop could be somewhere around 0.09

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
In no event will we be liable for any loss or damage on your account in connection with the use of our publications.
Advertisements

Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

18 thoughts on “The shootout started”

  1. unbelievable… i’ve been holding on a large btc short from $660 for a month, and bitfinex has been hacked.

    with the dao hack, and if the bfx hack is a considerable amount, i will be very, very disappointed.

    i am sad ravno. i am sad.

    Like

  2. Was shooting from the hip against your ETC guidance. But I have to say your helping me have a steady hand at the moment. πŸ™‚

    Like

    1. Well, just in case I still can prevent the second round shooting from your side =)

      ETC is simply the best indicator at the moment.
      Indocator for how much wild-west and greediness is in the process of being identified and transformed.

      So, we need to keep an eye on it.

      Like

  3. Greed is there but I like your ideological narrative. ETC has some roots, BTC lot’s of “bullets”. Long term trending towards “the good” …but much longer fight! πŸ™‚

    Like

      1. I think this is just a little scuffle. I don’t think it will end with winner take all or “parity”. Both sides stuck with deep ideological divides that come with the human condition. The pragmatism of “the good” will win the lion share. But they need eachother like ying and yang.

        Like

        1. Exactly! When it start falling, there will be much less demans to buy it back. Get ready, that will be quite spectacularly indeed.

          Btw, I wanted to short ETC yesterady on bitfinex. Couldn’t do it due to the hack. Looks like some of my ETH is gone now..

          Like

            1. I wouldn’t say it’s too bad..

              You see, I couldn’t resist the temptation to short the ETC.
              There were actually some signs that I shouldn’t do it. However, I ignored them (the bearish pattern was so clear !!) and pushed the thing a bit too hard.
              Basically, as a Yogi I normally receive the karma invoices pretty fast. So I got and paid for it.

              Which is, actually, quite good.

              Who likes too much debt?

              =)

              Like

                1. Yes, correct =)

                  BTW, I believe I found the ETH patter finally. Took almost the whole day to look at it from different angles.

                  Will publish it tomorrow. Unless my morning-after-meditation intuition doesn’t change it =)

                  Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s