@AndresThomasShirakawa, Thats why been trying to figure out EW in case it is part of the Wave ...still struggling lol
What do you think to the Doji A and Doji B idea reinforcing the Top idea?
filbfilb
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If you do the maths having looked at miners revenue before and after the hard fork you will realise that they need BTC to be worth $925. Assuming demand stays as it is, this is a fundimiental reason why we are seeing what we are seeing and it wont be dropping to anything like $400; - emphasis on demand.
filbfilb
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i meant the halvening :)
zippy1day
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@filbfilb, I agree and have corrected in the follow up chart and adjusted to $591 ~ $600 which would be reasonable for a rising wedge correction or do you think this goes up?
filbfilb
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@zippy1day, Ecomonics of the matter tells me that the miners will want to see the same income that they did prior to the halving and price must rise to account for this. If you look on blockchain.info, it still hasnt got there and still has something like 12% to go. There will be a void in the supply and demand at that price which is why its taking time to get there and it doesnt happen over night,
The chart reading tells me personally that it should correct to something like $600-700 whoich it could do if demand drops off, but generally im bullish due to the fundimentals; both economically and due to development.
I wont lose any sleep if it goes back down to $600-700 as that are where my bids are :)
zippy1day
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@filbfilb, Actually $670 but trying to get my head around Elliott Wave which is making me overly ambitious albeit I want some cheap coins now lol
filbfilb
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@zippy1day, Good luck with it. I dont personally like it but obviously lots of people have success with it!
zippy1day
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@filbfilb, If you can get the right wave pattern yes so think we have hit small (v) going into ABC correction sleep well bro
PoorBastard
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Although I'm still bearish, that idea toward $400 is terrifying.
I haven't seen any convincing long TA until now. If it breaks that B, must be FA reason.
That wedge is scary bro