EuroMotif
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BTC looking to Double Bottom?

COINBASE:BTCUSD   Bitcoin / Đô la
This is an update to my last plan:


Today's news to effect Market Sentiment:
1) US Congress Hearing on Crypto/ICO's on March 14th was neither bullish nor bearish . Mostly industry insiders educating the politicians.
2) Google             bans all Crypto Ads, joining FaceBook             . That's to all the scam ICO's, websites are getting weary of any advertising at all.
3) Equity markets look to be resuming decline, taking sentiment to risk-off mode.

Outlook:
Without any good news, we may be LUCKY to see a double bottom .
So my entry points are not automatic, but will be watching closely.

Bình luận: UPDATE:

Based on price action since posting, I have re-adjusted some of my chart, although targets look the same:


Wave 3 went slightly lower than original plan, and wave 4 rebounded higher than plan. This might be a GOOD sign. I was expecting a quick end of that wave 5 with shallower retraces, to set up for another leg (12345) down. But if this leg is already more volatile, then the next one down might be less volatile and not as long.
I changed the fib from being just wave 1 to wave 1+3 now, to better measure where wave 5 might end.

But all in all I am still looking for targets close to the original plan. I guess we shall see.
The Golden Ratio is my Religion
good chart, congrats
Phản hồi
when you say "lucky" are you saying we could go much lower, or we would be lucky to get that opportunity to buy in at double bottom?
+1 Phản hồi
EuroMotif ThankUKind
@ThankUKind, I am afraid it might go lower than previous low. The $5800 bounce was due to US Senate hearing that was quite bullish. But since then, the SEC has laid down some fud, such as all exchanges needing to register with them, and reiterating that all ICO's are essentially illegal since none of them registered. And the Hearing today was to educate Congress on difference between CryptoCurrencies and ICO's - pointing to a lot of regulation for ICO's for sure. Still long term Perma-Bull here. Waiting to see what the G20 meeting has to say about Crypto next.
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