Honestly, we expected to see these levels during the first half of 2018, so this cycle is closing early. With this in mind, from the technical point of view, this pair should be sell on wave 5 with target around wave (c). Said that, we remind you that we do not trade crypto currencies, but only release our technical analyzes.
If you think this analysis can be useful, leave a your comment or your LIKE! Thank you for support and trade with care!
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INTRADAY ANALYSIS
On intraday chart (H1), we still have a bullish impulsive structure that has the same TARGET of our SELL AREA on daily chart....
Looked the the whole BTC cycle for hours after this, wave counted for the nth time and i've tried to find flaws in the wave count. Correction is imminent but not until we reach the higher highs. Glad your making us see the bigger picture. The crash on this thing would be so tasty.
casstete
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@pharoahscursed, yea aha , last bigger picture they shorted BTC at 15000 .... Bigger picture is how much money is in BTC now VS last month
chesar32
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What you are saying it makes sense 100% however Bitcoin is going to have more exposure to mainstream, meaning CME group, other hedge funds and even the Nasdaq, JPMorgan will offer Bitcoin futures to their clients very soon. Can this be a catalyst for Bitcoin to go higher? Regardless, does it need to have a correction somehow?
Thanks
Blackbeard87
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What would you recommend to invest by leaving BTC? Buy an altcoin or take $?
JPTradeCrypto
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@Blackbeard87, Alts usually get pulled down when BTC makes a big correction.
Blackbeard87
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@Jaydevis, many thanks for your reply! So change to $ would be the best trade but this lead to pay exchange fees :(
dswilkinson
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@Blackbeard87, I have been switch over to DASH when BTC goes down.
Manipulator
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Unless there is an unexpected events...
GoldenRatioTA
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Agree, although I think price might drop all the way down to $5,400. Thank you for your analysis!
brandonyyz
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Thanks for the technical insight! Which means to say, based on your opinion, after Futures contracts are introduced, a higher possibility of shorting?