Long

It's time to BUY #Bitcoin, NOT panic

Updated

Take a deep breath. Elon is neither your friend nor your enemy. This pullback since April after the shutting down of huge BTC mining operations in Xianjang was expected.

The nice ending diagonal wave, followed by a very straightforward ABC correction, is entirely normal. This is the first 200 Day EMA (and near RSI oversold hit) we have had in 15 months.

It's buy time people, not panic time. Stay classy.

Note

I will be transferring more ETHUSD out of BTCUSD in expectation of it to continue to lead BTC. This is very similar of what happened toward the end of 2017 and the last bullish S2F cycle.

ETH and many cheap alt coins exploded, most of those alt coins died in the years following never to be heard from again.

Note

Successfully got an RSI oversold hit yesterday. Up we go.

Note

I have received a few PMs on this idea, the top is not a head and shoulders pattern, common mistake. It is indeed a wave 5 top to a standard corrective structure.

Note

Blew past the 200 DMA, yikes. Exact bottom on Binance and Coinbase at 30,000. ETHUSD cut in half.

mortdiggiddy

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