As we discussed in the last article, the expected goal for ETH around 11 EUR was reached pretty easily. But today we won’t talk much about ETH. Next update will be solely for ETH.
Rather we come back directly to BTC..
As we mentioned in the same last post, the crowd was getting too positive and very few believed we could drop below $800. We expected this however and warned the readers…
The author is trying its best to “keep the balance”. It means not to get too much excited when everyone is. But also not be too much scared when the crowd starts panicking.
At the moment seems like everyone is scared regarding the BTC and its sudden “made in China” problems.
This is the time where we believe we need to write few lines again.
Look at this chart first:What we have now is most probably a correction.. And this correction should be over soon. Might even happen today or tomorrow. But as long as this trend line isn’t clearly broken, nothing really bad happened to the crypto..
Let us also dive a bit deeper into the BTC charts. Who knows may be we will see some patterns? We like Elliott Waves patterns!
The author leaves a bit more than usual notation on the chart. Otherwise it is difficult to show how many aspects one needs to take into account while analyzing the markets according to Elliott Waves..
The bottom line: we have opposite situation to the one when the talked the last time. The BTC is much closer to the bottom now than to the top. Everything is changing..
Have a nice day.
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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