BITCOIN: The Moment of the Truth

BITCOIN: The Moment of the Truth
January 10 21:38 2019 Print This Article

Again, we are reaching the moment on which BEARS and BULLS fight among themselves, the first to keep dragging the market, the Second to reverse it…

Since Christmas I have been talking about this movement, a 5-3-5 Correction, also called Zig-Zag correction.

The movement has been performed exactly as expected, despite the time it has taken to get completed…

  • LEG A: 5 waves down, reaching the 81.8 Fibonacci’s Level
  • LEG B: A-B-C subwaves within a long bearish Flag
  • LEG C: 5 Waves Down, completed or almost completed. BTC has touched the “A” level but, normally, this kind of corrections can go a little bit lower…perhaps FIBO 78.6% (3367 USD)

INVALIDATION OF THE COUNT:

First the bad scenario.

In the case that “C” becomes a long extended one (Extended Five), crossing lower than wave (i) (3200 USD), this count will become useless…

WHAT WILL HAPPEN IF THE COUNT IS CORRECT?

And now the hopeful scenario.

I expect, as also stated by @ew-and-patterns ,the start of a second sub-set of Bullish waves upwards, longer than the previous one, since they would be the start of a 3rd wave.

The projection Target levels would vary depending on the volume but, in my opinion, I would expect 5340 USD in case of a classical 3rd wave:

…or 6340 USD in case that 3rd wave is extended (i.e 2.618 times the height of wave 1)

Enjoy!

@toofasteddie


*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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Too Fast Eddie
Too Fast Eddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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