Bitcoin correction to come before fireworks
What an epic bullrun in 2017 !
I wanted to zoom out a bit cause it's easy be seized by price ticker nowadays.
Opened some weekly chart I tried to update my Elliott Waves counting.
Third (impulse) wave could be over some days ago, around 11200 dollars.
If that's the case : we are down in short term, correction to 7000 or less.
Then would come the end of the 3years cycle (in green), which could be another impressive months. Going to probably 21000+.
What are you guys thinking about the next months ?
With the awareness of the general public that is advancing rapidly about bitcoin :
- I would not be surprised to be wrong on this (IV)th correction wave. It can be less violent and only last for 1 or months.
- IMO being neutral, holding and having stop-loss orders, is best option.
I wanted to zoom out a bit cause it's easy be seized by price ticker nowadays.
Opened some weekly chart I tried to update my Elliott Waves counting.
Third (impulse) wave could be over some days ago, around 11200 dollars.
If that's the case : we are down in short term, correction to 7000 or less.
Then would come the end of the 3years cycle (in green), which could be another impressive months. Going to probably 21000+.
What are you guys thinking about the next months ?
With the awareness of the general public that is advancing rapidly about bitcoin :
- I would not be surprised to be wrong on this (IV)th correction wave. It can be less violent and only last for 1 or months.
- IMO being neutral, holding and having stop-loss orders, is best option.
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