BitcoinEducation
Big Picture thoughts on BTC
The question of 2018:
Is it a BUBBLE BURST ?
or just a CORRECTION ?
Observations:
Using a line chart (on close) eliminates noise.
BTC routinely retraces to 786 in all time frames.
This correction was a typical ABC (B=A*618, C=A*2.0)
Bears tried twice to push ABC to full extension.
Bears still might accomplish full ext to 6,000 at most.
Conclusions:
This is just a normal ABC correction of Bitcoin.
And it is not a very severe one at that, looks done.
This ''crash'' may just be wave 2(!) of 5.
If this wave 2, strap in for a wave 3 space trip.
Is it a BUBBLE BURST ?
or just a CORRECTION ?
Observations:
Using a line chart (on close) eliminates noise.
BTC routinely retraces to 786 in all time frames.
This correction was a typical ABC (B=A*618, C=A*2.0)
Bears tried twice to push ABC to full extension.
Bears still might accomplish full ext to 6,000 at most.
Conclusions:
This is just a normal ABC correction of Bitcoin.
And it is not a very severe one at that, looks done.
This ''crash'' may just be wave 2(!) of 5.
If this wave 2, strap in for a wave 3 space trip.
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the Trading View is my Nation
the Moderator Tag is my Flag
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.