The author is afraid we will have soon to rename this blog.
There is not so much interesting activity in ETH lately.
Instead, we have plenty of exciting moves in BTC, then also ZCash lately (may be we will come to it in the next update). Not to say about REP and XMR in between.
Well, the only stable part of the life is the changes we experience. So, we need to accept this new reality. Hopefully, one day we turn back again mostly to our beloved ETH..
As for now, we are in the middle of the mentioned battle for $800 in BTC.
It is better to check the BTCCNY chart, as the majority of the action comes from the China.
What do we see? Clear 5 waves down. They have to be continued, one new low is very probable. Is it the end of the battle or is it just a short pause before the next assault attempt?
We will know the answer when the sentiment after the new low will become visible.
A bit panic and worries would mean the BTC will rise again.
“Just a correction” and “use a chance to buy cheap BTC before it’s too late” and we would wait for more decline.
Stay tuned. Though being quite busy lately with building up the “sentiment in crypto markets”, we do not forget our subscribers here. We will keep you updated.
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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