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RE: Bitcoin (BTC) Update: We are VERY CLOSE to a wave (v) of 5 of III top! What to do? This is what I'm doing...read the blog.

in #bitcoin7 years ago (edited)

I'm finding this part of EW the hardest to interpret which i guess takes the years of experience to predict. The waves within waves. A few of your other charts put certain coins 5th wave beyond this point (the first to 2nd quarter of Sept) but this potential correction of Btc is much more immature (in a sense where even a week can sure make a hella lot of difference when trying to take profits). Maybe the btc/bcc war will begin sooner than later. As btc (digital gold) seems to underpin the movement of most coins i wouldn't want to be the one on any sinking ship. Like your post says it may be time to air on the side of caution. Thanks again for your analysis 👍

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Don't worry too much about the sub-waves....try and visualize the bigger five waves and the abc corrections.

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