Not much explanation here. We all know why this is happening. If you are a new follower, or checking this post out for the first time and want to get caught up on WHY, check out the related articles, dating back toooo - I think March? With the Mt Gox Post. *edit* April, after I posted I now see April. :)
BTC Roadmap - $7800 - $8570 -$7k
Does the BTC Daily Trend Continue?
Consider Taking Profit in the Market
BTC - Similarities in Mt. Gox
Remember, this is ONLY to $8870 max. I am NOT targeting anything above and I am taking profit. Then will likely open a short. I expect another drop! As time moves on, there are alternate counts, but for now this is the main one.
Any questions are concerns, alternate ideas, "thanks" or "you're dumb, b*^ch," perma-bulls, and perma-bears are all welcomed in the comment section.
Uhhh yeah I think thats it. As mentioned, if you need reasoning for this OTHER than wave count check out the other posts. Also, follow me on Twitter (@cryptoeball). I update other coins and probably post more in there than I update on here now.
Of course things are likely to change on the smaller scale, but the main trend is and targets should remain the same, of course, its not always guaranteed. Alternate counts may be provided as time comse along. Part 3 will release when Part 2 is nearly done. Much Love!
DisFreakingClaimer - I don't activate trades. Nor am I responsible if you lose money :). Please just consider this chart, don't follow blindly.
Before the drop
I hate Bitcoin.. But everyone was waiting for 7800. Gonna wait and see what happens with this.. Looks bullish but its best to wait and see how everything plays out
Biggest thing now is breaking this downtrend line.
Downtrend line is broken
Going to wait for a pull back and buy on the retest of this downtrend line. If we hit a head and shoulder's its probably going to break through.
Everything is going according to my evil plan hehe
Lol I had my angry moment on twitter today. I'm just really pissed that I actually have seen an analyst say it was "irresponsible" to consider $7k when we haven't broken a critical level. This overall wasn't directed to him. But guys... There is a time where you have to be realistic and to not just HOPE. Hope will freaking kill you. What you want to happen will get destroyed because BTC doesn't care about what you want.
Do I want to see 3k BTC? NO. I actually want it to go up. Because 3k BTC means that volume and volatility is going to die and the trading game is going to get boring.
Is 3k good long term? YES. Because I still believe that BTC will rebound. 3k means longer consolidation for a bigger boom and cheap alts. It's the short-term I'm worried about. The long-term we should be fine.
Just please. PLEASE. We all want BTC to do well. BUT DONT BLIND YOURSELVES. DONT SAY MOON UNTIL MOON THINGS HAPPEN.
It's like when your friend falls in love with a terrible person. And you tell your friend that the terrible person is a terrible person. But your friend doesn't listen because she is BLINDED by love. And she doesn't realized how terrible that person is until something ridiculous happens. And its not until then she has the "aha!" moment. PLEASE. If you say "BTC to $20k!", also say "But maybe even $3k! WHO KNOWS." LOL
Understand that there is a process for BTC to get to where its planning to go. The predecessing (just made that word up) moments for "moon" phase don't happen overnight.
The Short term is dependent on the channel support holding (which I dont think it will)... So the purple arrows are unlikely. Each option is according to wave count. The white option is my most favorable right now.
Everything is now different. We have 5 waves down. Bears. Get the guns out.