In case you are asking: what is coming ?
First, the madness in BTC price. Whatever happens to SegWit. Be it accepted or rejected. We will witness soon the local top for BTC.
Will it go up to $1000? The author thinks it is possible. How probable? Not really. The sentiment got so dense on BTC that it is difficult to imagine it will grow far behind the $800. May be $850. May be not. We will see.
The battle for $800, however, we wanna see it!
Second (what is coming) is ETH bottom. Today one long-term chart. It explains why the author mentioned recently “time to turn slowly bullish”. Look at it:Today purely for educational purposes the author doesn’t put the waves numbers. Instead, read the chart, one hint is provided. Do you see the exact 1.618 extension ? This is how the waves 3 and 1 are ideally correlate. What comes next? You should already know by now after half a year of educational efforts on these pages. In case you are the new reader or want to talk in details, let’s move to the comment area..
What sentiment should we experience? Depression, capitulation, close to “lose an interest”, sometimes panic. The author took again some time to read, analyze and structure the sentiment information, available on the internet. And the results? We are very close to the classic environment, accompanying the bottom of the wave 5. Don’t remember when I saw last time so much negative sentiment on ETH.. It doesn’t feel yet as the final bottom, but pretty close to it.
And, by the way, once again the author got a confirmation how useful it will be to have a central point, platform where one can always get all the needed sentiment information, already structured and tailored to the needs of the trader/investor. It took 3 days and 2-3 hours daily to get the current sentiment environment. A lot of effort is needed indeed.
We believe with our coming santiment.net platform we feed this empty space in the crypto universe.
For now, watch out for the price action. The last moves in crypto (be it top or bottom) can get crazy at times..
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.
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