BITCOIN: Expected correction on-going

Still trying to understand what is causing the drop on the market these days?

I quit already from searching the reasons long time ago, I am only stick to the Psychological aspect of the market…news supporting the different scenarios often comes later on…

For “common mortals” as we are, it is really difficult to anticipate your next move based only in news and rumors, actually what usually happens is that rumors and news come in a weirdly and sudden manner and they are only reachable in a first chance for only a few…

Normally, when you read about a rumor, the rise or the drop on the value of a stock is already running and then, it is like trying to catch a train in motion…

For me, the most important thing is trying to read the situation of market every time and so, anticipate the next movement according to a plan…

That’s why is so important to train on Elliot waves, Supports and resistance trendlines, indicators and the like which, besides your own research and the allowable information, can give you some clues for the next entries or exit points.

5th wave has been a short one. That 5th wave has completed the first big wave (“I” in roman numbers) of this new Bull cycle.

BITCOIN is correcting, forming the typical ABC, in principle… A good point in order to look for re-entries can be the range between 7300 and 7000 USD, just on top of the dashed red line which marks the lower inclined support…

What is coming next you can easily imagine, the 3rd big and commonly longest wave of the cycle is coming…
Sorry for the “untidy” chart but that is the plan, mostly:


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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