Don't be fooled by this support @ 14200$. BTC is likely to show two more lows, bringing it down into my target zone between 11000$ and 8000$, where I will start buying into alt coins again. I have cash ready and waiting for that.
Right now it looks like wave c of red wave 2 could be done tomorrow or the day after.
haejin thinks this count is less likely, but it is my primary count. The hype needs to wear off. Such a little crash is prefect for turning the sentiment bearish, so BTC can go up again.
I bet, that at the end of red wave 5 of C, a positive news will arise, probably solving the scaleability issue of BTC (at least a short term solution, because BTC is still clogged. At this moment there are still 34000 unconfirmed transactions in BTC waiting in line to be confirmed by the miners. Some have been waiting 3 weeks for their tranaction now. That's just horrible)
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It does seem like it is under pressure, but it bounced a couple times off low lows in the 13,000's
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I agree that pending transaction are a real pain but I have the number at around 185k! I had one stuck for several weeks before going through. Usually caused by insufficient fees.
I’m not convinced on price direction yet, although a drop to $10k should shake out the weak hands and be a real buying opportunity!
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It seems as though the bitcoin-altcoin gains/losses come in waves. My guess is because people pump money into alts when btc is high and alts are low, and transfer it back into btc once they've reached wanted gains from respected altcoins therefore driving bitcoin prices back up. What are your thoughts @ew-and-patterns ?
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This is kinda right. Whenever some coin is up 40+% in one day, people sell for a quick profit. Some pump it right back into another coin.
The same goes for BTC when it has a few days winning streak.
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I agree that this could be a possible explanation although it will mean that BTC vs ALTS have always a inverse relationship which is not always true. Some times both BTC and ALTS go down and some times both go up.
May be what you propose is part of the equation and you need to add also FOMO, FUD, news, rumours, adoption rate, etc.
In all I doubt that BTC will go down to $11.000 and even less to $8.000 even if I would like to buy some more "cheap" BTC.
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Michael Novograts posted this tweet on 22 dic. https://twitter.com/novogratz/status/944242370291388416
he also looked at an extreme low at $8.000. Thanx for the article.
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Der US Bundesrichter Dale Kimball hat nun dem Verkauf von 513 Bitcoin and 512 Bitcoin Cash im Gesamtwert von 10 Millionen US-Dollar zugestimmt. Das Guthaben wurde im November 2016 beschlagnahmt, als der in Utah gemeldete Darknet-Dealer Aaron Michael Shamo verhaftet wurde. Mehr dazu kannst du heute in meinen news lesen :)
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BTC Possible Shoulder Head Shoulder
If the figure is completed and confirmed, we should see the tendency of the figure.
If it were bullish, it could again reach $ 17,200.
Otherwise it could reach 10,700 dollars.
Remember the resistances of the triple zeros.
If you agree or not, comment or give a vote of steem. Thanks
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It is absolutely a turning point on bitcoin price, but in my opinion we will see uptrend in next few days. My analysis #25.
p.s. It will be more analysis! My work of past few months to be shared with All Steemians please resteem and let it be of great use TFDSRE: #1, #2, #3.
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Yes now a days bitcoin is the best to make money.i like it and thanks to you sharing this.
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I figure bitcoin will have an extraordinary future since his technique is great in the advanced cash world @ ew-and-patterns
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I doubt that BTC will go down to $11.000 and even less to $8.000 even if I would like to buy some more "cheap" BTC.
Elliot Wave analysis has a bad track record on predicting BTC movements. In fact most technical indicators are really bad with BTC except the basic ones like trends, supports/resistances, moving averages and Fibo.
I don't exactly why, may be because of the volatility of the asset or may be because there are so many noob traders that only know how to use those tools, which makes them a Self-fulfilling prophecy.
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bitcoin is very important.i like it.thanks for sharing..........
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I think bitcoin will have a great future because his strategy is good in the digital currency world @ew-and-patterns
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Nice post. Its graph is going down but not too sharp. Let's hope it can go up quickly.
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Wonderful chart.Truly ,the way am seeing btc it will go down just like the way you said.i am ready to buy as much as possible if it hit $11000 .thanks for this priceless insight.
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great work @ew-and-patterns
you updated about currency with awesome articles any time this is your efforts Man.
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Bitcoin is the most important for us, really like this bitcoin . personally i like your post , thank you very much
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bitcoin next move will be upward. big correction took place!
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will be watching for the next drops, I'm wondering how low it will go now!
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bitcoin will hit 30000 in 2018
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Maybe reversal will not be so low at $10k but it still Is no confirmation for that. My analysis: #25.
p.s. It will be more analysis! My work of past few months to be shared with All Steemians please resteem and let it be of great use TFDSRE: #1, #2, #3.
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imho, it will go lower my first target is 11200 and then 7500-8000 levels https://steemit.com/bitcoin/@superblocks/bitcoin-btcusd-important-update-price-analysis-10th-jan-2018
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