BITCOIN: The Moment of the Truth

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

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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toofasteddie
toofasteddie

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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