UPDATE: KABOOM. We have a new low and now there is the anticipated bullwick. Fingers crossed for new uptrend, but i highly doubt it ^^.
UPDATE 2: Coinbase is working on a custody solution for institutions who want to invest in BTC! That is exactly what we need more companies to start doing!
https://www.newsbtc.com/2018/06/25/research-etfs-lead-bitcoin-price-35000-isnt-far-away/
Yes, it happened. We have a new low in BTC. 5920 was breached.
This killed another bullish count and hints at more pain to come.
BUT: There is one chance that it might be already the last wave down like this:
If this does not happen, we have to revaluate the structure. If you see it crashing through 5000 immediately, be alarmed. Because the target could be 3000 if it is in fact a big ABC.
UPDATE: This decending right triangle is bearish as well. Upper resistance line is now confirmed a second time.
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There is no bullish count since January. When do people wake up? We go to <$4k. Why can't people see this. Same as altcoins, we need a deep deep retracement. We ain't have seen nothing yet.
Looks really interested, well done! We've to wait, and see what the big investors will do.
Big investors will only step in once regulation is sorted
Looking after this chart feels like it's not gonna be easy to reach to $25k at the end of December. What do you say? btw great share. I am also a crypto lover.
I think it is still possible, but unlikely. Maybe Q1 2019.
excellent post ..loving to your blog.thanks for sharing..
Hey great update there, I'm loving it. I trully hope it goes under $4000, but it would first have to go through the whole 4500-3600 range, which is looking pretty rock hard. $3040 would be the end of this correction.
I'm so excited right now, I'm gonna be able to double up my stack if it goes to at least 4000. Same for BTS that would reach 0.08-0.09. I'm mostly into XRP though.
You post all these possible counts, which is necessary to be a successful analyst, but in your opinion, what is the most likely count?
I quote myself from another post:
"Double bottom @ 6k sounds good and is plausible. I noticed that wave 2 usually retraces very deeply in BTC which raises the probability for this a little...
But somebody already pointed it out in this comment section. Such a huge downtrend usually ends with capitulation (4000-2000$). I am already mentally prepared for this downtrend to last the whole year of 2018. Anything other than that would be a positive surprise."
As for your update #2, now that's a lot of "if", "could" and "may" occurencies. "If" I read the article correctly, which I know I do, this should not even happen before Q4 2018, at best.
This is a very long and slow process, institutional money is not going to pour in from one day to another. Of course this is gonna happen, but not before another bloodbath imho.
Yes it will take a while. Actually I am tracking like 5 counts that would expand this correction into Q1 2019... there are so many things possible now, that the most shortterm bullish counts are invalidated.
This "KABOOM" from your update looks like the wave 4 from your your original count. What makes the difference between one and the other?
Just for you:
The Kaboom happend after white wave 5 as expected.
Great!!! Thanks!
this great information I appreciate your bitcoin thanks for sharing this crytocurrency news..