Wave count on downleg from May.
Resistence formed at the 6k2 low from April marks the top of the 4th wave.
I expect the 5th to end at either:
a. 5k something or
b. Truncated at 5780, the prev ATL from 24 june.
Disclaimer: Not an advice, just my personal view and notes.
Bitcoin, and all other crypto's dropped yesterday. The real reason still doubtful, but most likely of FUD.
Still don't fully comprehend why all markets follow BTC 1:1. I suspect bots. (?)
Still in down channel from 20k, dec '17.
Worse, a steeper down channel formed on 5th march.
Yesterday all cried out "crypto is dead" and/or "BTC is dead".
But what? Even...
I see 4 options:
Fast: close around 10 feb 18:00 GMT @11000. Highly unlikely
Slow: close around 20 feb 0:00 GMT @9400. Preferred
Resistance: close around 25 feb 6:00 GMT @8500. Reasonable
Follow down channel, stop around ??? @???
Notes:
Channels are drawn using instead of hand-drawn trend lines/triangles. Seems wishful thinking to me, I just...
