Bitcoin (BTC/USD) - Flat Correction Means Possible Bottom for Wave 2?
Bitcoin had a huge drop in price recently due to the 400 million dollars that was liquidated from the Mt. Gox estate. But did it create chaos in the Elliott Waves? NOT one bit. It actually couldn't have happened any better as we needed to complete the 3rd, 4th and 5th wave. Does it mean that the bottom is in? I don't know. There is no way for me to judge the bottom or top. What I can say is that from an Elliott Wave, ABC regular flat correction (3,3,5) standpoint, we could be complete. With that said IF this is the case, a reversal could ensue. If not, lets hope our support line from our previous large triangle holds.
If you want to learn more about corrections in Elliott waves I suggest you take a look at ElliottWave.net. They have a 'wealth' of information. http://www.elliottwave.net/educational/basictenets/basics3.htm
May you have abundance in all of 2018!!
I am not a financial advisor as this is all for educational purposes only. It is YOUR responsibility to double check, triple check to see if any of my claims are valid. If you like my content please feel free to comment, thumbs up or donate! If you become rich because of my content please don't forget GunTotnHippie is always looking for a new set of Tibetan singing bowls or the new Sig P220 10mm Legion. ;)
BTC - 1BD4K7YnRejZmhddcjQceo8SHgS9F96uu1
LTC - LLJ1UamiehmRHptYKDdgXzpffJxP7rHD7
You use Elliott waves. I use astrology. No kidding. But E Waves are more precise. Astrology is frequently more general, however there are astrologers who can pinpoint things to the very moment. I'm not that good. Anyway, lets hope it does bottom out. Astrology indicates Bitcoin will have a rough go of it for anothe 2.5 years. Government interference mostly.Blessings.
Interesting. Care to share some links on how to read it? There are multiple ways to read this world the more info we have the better.