BTC due for correction, but will the whales step in?
Here's my idea for BTC near-turn future, based on Elliott waves: We've had our 1-2-3-4-5 up, and it looks to me like it's time for the A-B-C correction. But my feeling is this won't be the super-dramatic mega dump that some are suggesting... there's simply too much big money involved in BTC now, and I think the whales will step in to prop up the market.
I think we'll initially have a small drop to the 0.618 fib (around 52488), then a bounce before we drop to 43K. I reckon that's the line in the sand for the Big Boys, and they will step in to stop any further drop. But we shall see! Personally, I'm not longing BTC for the next few weeks.
Let me know what you think, thank you!
I think we'll initially have a small drop to the 0.618 fib (around 52488), then a bounce before we drop to 43K. I reckon that's the line in the sand for the Big Boys, and they will step in to stop any further drop. But we shall see! Personally, I'm not longing BTC for the next few weeks.
Let me know what you think, thank you!
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