Looking across major alts with utility we can see they are performing better than BTC over higher timeframes. In my opinion alts are about to really bounce when BTC rises, whether now, in three months or six months. Use time to your advantage, wise investments and time on your side. When the bull comes you will prevail.
After major capitulations like we have seen in the past we have seen serious buy ups of BTC on the cheap. Low and behold at this point we are seeing the same major buy ups of cheap Bitcoin, despite all the mega fud they are outputting. I think the bottom is in.
This is a classic standard Elliiot Wave 12345 ABC in all it's glory. Are we ready now to start going back up the way? My feeling is yes.
Looking back from the start of Bitcoin on the weekly we can see a clear Impulse Elliott Wave. Will we now see an ABC correction to take us much further down than most analysts are predicting? Time will tell.