Totally unrealistic, if it indeed would go down that far, then it would not come up to 20K until a very long time. Were the EW at all validated for crypto currencies? This concept came from stock market analysis, right, but cryptos are no stocks.
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If you take a look at my performance in my blog, or at haejins performance, which is a little better than mine, you might realise that it works even better in cryptos, than in equities, because there are no algos running the markets, just fear and greed.
Or you could still say that it is bull... even though the evidence is presented to anyone who wants to see it. It is forever in the blockchain.
And I must say that it's more important in crypto trading because the market is a very fast moving one. I was messing around stocks with a simulator before I got into cryptos and pure fundamentals worked amazingly well. I even did 150%+ gains in 2 days. IMHO EW isn't even that useful for stocks if you don't day trade. But cryptos are a completely different case.
As for the BTC drop, I just wish it'd be a slow and steady drop over some time instead of a sudden crash.
I expect it to look like wave A. slow drop, faster drop, crash to panic low.
Makes a lot of sense. Thanks for the reply.
If this is the case why is there no update from @haejin ?!
maybe he is travelling again?
Then he would let us know.