ETH and BTC goals are reached. What’s next?

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:global_market_cap_trendlineWhat 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!

btcusdlong

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.
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.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

2 thoughts on “ETH and BTC goals are reached. What’s next?”

  1. I have a theory formed late last year regarding BTC vs Altcoins. Keep in mind that there’s very little historical data to back this up, so it’s based on anecdotal evidence and amateur psychology on my part….

    … $1000 dollar BTC is a huge psychological wall for many people entering into crypto (new money). So they naturally gravitate towards “cheaper” alternatives. Consequently, more capital leaks into alts, and so the major alts outperform BTC as we approach and move beyond $1000.

    To capitalize on the idea, I opened/increased margin long positions late dec/early jan,in XMR, ETH, DASH, LTC, FCT and MAID.

    So far, so good (don’t want to jinx it!)

    Like

    1. Sorry for the late reply. Moved to China and got sucked by the local activities =)

      I believe your theory some pretty good fundament..
      As we know, the crypto market participants are driven very strongly by the greed.
      Everyone knows what kind of moves we might experience here.

      Bitcoin has indeed strong resistance around $1000.

      And at the same time so many “undervalued” (or simply cheap) alt-coins where big moves happen regularly…

      So, I’m with you on this theory, which basically fits perfectly into how “crowd” behaves.

      Like

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