Awaiting positive news for BTC

We didn’t talk for quite a long time about the Bitcoin.

If author remembers it right, in the last post we were awaiting the rise towards the 690 USD at least.

It is not that far anymore:btcusdlongThough there is never a 100 % secure and sure prediction, the path of the least resistance for BTC is up right now.

The author would expect some good news coming out now, be it SegWit or some smart contract platform for the Bitcoin. As these news will start coming, expect the sentiment to heat up and then we will start looking for the next top (as we did it at the last top during the halving event).

Talking about sentiment. Our last try to pick up the bottom in XMR failed, the declined continued. We do believe, however, that the bottom is close. As we said several weeks ago, the XMR is in a big correction, where the sentiment might reach pretty depressed levels, and we do see clear indications of depression in many places (forums and trading rooms). Besides, the price reached our target of 0.012 and the Elliott Waves structure allows the decline to be marked as completed:xmrbtcIf the current level, however, doesn’t hold and XMR drops below 0.011, then we might see continued decline all the way down to around 0.08. We have little doubt that at this level the panic and depression would reach the extreme values and XMR might become one of the best buys of the year. This level (0.08) is also where wave “c” will become equal wave “a” (at the moment the relationship is 0.618).

We will see if the price really will get so far. By the way, at the moment we are testing one interesting component of our already under development santiment.net platform and this component  is giving increasing signal levels in XMR for the last few days.

Have a nice weekend! Crypto never sleeps, but we should learn to take some time off.

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.

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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

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