The 5-th wave in alt-coins is somewhere close

As expected in the last update the “alt-count” market has steadily grown since weeks.

This is what we have now:altcoinglobalThere should be one more correction down (small yellow arrow down). The most important part is, however, the possible bigger rise – the bigger yellow arrow.

The author isn’t going to chase this potential decline. The risk of missing the big rise is bigger than reward of selling high and then re-bying lower.

Regarding the BTC we are already in the “public awareness” phase. It means there are a lot of talks about BTC in the normal media. The risk for decline is very high. Will we make an ATH (all time high)? Possibly yes. If we see, however, the voices like “even the chinese regulations can’t harm the Bitcoin” that would make the call for the immediate reverse. Those who are trading the BTC now – try to understand what the majority expects. Market never follows the “majority path”. The author himself will come back to analyzing the BTC in 2 weeks.

As for ETH.. There is a good chance we’ve had our 5 waves up:ethusdlongSo, the correction down to $9 is probable.

If this correction starts now, it would also mark 5 wave rise in “alt-coins” in general. It means we might see few weeks of declining prices. However, as said above, the author is not going to chase this possible decline. The risk of missing out on a substantial rise is pretty high.

Besides, the author is out in the meditation retreat for the next 10 days, so no trading is possible anyway. And this is good so =)

Have good time and don’t get scared if you see something “unexpected” is happening.

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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