Topic: 2018 Cryptocurrency Crash (Elliott Wave) - page 34. (Read 26030 times)

Too far, need more wave formations to project further!

As the day transitions from Tuesday to Wednesday across timezones, the Crypto market has paused taking stock of the first leg of the crash.

Since its all-time high set on 17 Dec 2017, Bitcoin has now declined 50% in value and is currently finding support at the $10000 level near the 22 Dec 2017 lows. This is an illusory psychological place where both the bulls and bears mull over their next move hoping for support or resistance respectively.

After pausing, deliberating and moving sideways for 11 hours thus far, eventually the bears are scheduled to take control. It appears the second leg, and more intense part of the crash is going to unfold during the London session were the opening bell has rung over an hour ago. Alternatively, a sideways and whipsaw behaviour to trap more buyers and sellers may extend into the US session and early Asia session. Either way, the next crash leg is looming.

The overall grand target is an approx 78% decline with a target capitulation range of $2000-$4000. Hence, the crash is just half-way through. Another 50% decline in other cryptocurrencies suggests that many shall become extinct.

Estimate for the next level of support remains unchanged from overnight, in fact the previous trade speculative short position, is still in play.

The second phase of the crash leg psychologically represents the apex of the "fear" stage. The point of recognition and self-realisation. This is where price action is submerged within several degrees of deep fractal price formations; i.e. the depths of the abyss with a seemingly bottomless chasm.

(See attached chart for following illustration)…

At $8061, wave-C equals wave-A in length (the larger A-B-C structure).
At $7116, wave-c equals wave-a times a Fibonacci 1.618 extension (of the larger C wave).
At $7600, represents a 61.8% decline of the entire Bitcoin market.

The average of these three price points is $7592. Hence, this represents an approx possible area of support and pause for the forthcoming second leg of the crash —naturally a place to close partial profits from a short position.

https://i.imgur.com/eXBFcrN.png

There has been a lot of talk in the press about a massive crypto crash, but put it into perspective...it went crazy last month, this is just an adjustment, and most currencies are still worth x3 what they were six months ago. The sky is not falling. In fact, there is more adoption for BTC as a currency that ever before. Overstock now accepts BTC, as does KFC Canada, and soon the Mavericks will. https://www.ccn.com/dallas-mavericks-accept-bitcoin-next-season-says-owner-mark-cuban/

The Singaporean Central Bank Chief is backing cryptos: https://www.ccn.com/singapore-central-bank-chief-wants-cryptocurrency-to-survive-crash/

There is NO Korean ban: https://www.ccn.com/south-korea-govt-confirms-no-cryptocurrency-trading-ban-market-optimistic/

And while the doom and gloom brigade are out in force, others are far more optimistic: https://www.ccn.com/bitcoin-price-to-hit-100000-in-2018-predicts-saxo-bank-analyst/

To quote The Hitchhikers Guide to the Galaxy - DON'T PANIC!

Yeah.. everyone just ignore the fact that this has happened forever in the history of crypto.. Jan. crashes.. and instead make fud with "technical analysis"..

The next wave of the crash is expected to commence when $10,535 is taken out to the downside; and, psychologically it would represent the apex of the "fear" stage. The point of recognition and self-realisation. This is where price action is submerged within several degrees of deep fractal formations; i.e. the depths of the abyss and a seemingly bottomless chasm.

A speculative short position entered at $10,535 with a stop-loss at $11,497 may serve as a favorable but aggressive risk/reward swing trade to ride the next wave down to approx $7,116-$8,061 (or $7,588 on average). A more conservative entrance would be to enter when $9,940 is breached. Since volatility is expected to peak, exchange outages will occur; and hence, the trade suggestion is higly speculative as price action whipsaws.

Prices quoted are BTC/USD (Bitfinex).

https://i.imgur.com/3S79Rg5.png
 

Thanks for fueling the pump down males for easy BTC accumulation.

There are a lot of new investors desperate for cheap coins and who have set buy orders just below $10,000. And there are some hedge funds trying to diversify out of stocks and into assets uncorrelated with stocks. If bitcoin can hold above $10,000. it will probably move sideways until February.

I already made up my mind, lol, shorting a few BTC here but I'm going to keep a tight stoploss on the trade. We might make another huge downturn tonight.

What caught me a bit off-guard is that when it dipped below $10.000 there was no huge amount of StopLoss orders getting triggered (which I expected) nor huge panic. It bounced very quickly back, most likely because it had tanked so hard already. Not sure what to do now, I've closed my shorts for the moment. We've crashed hard already, made some good profits, now I'm going to wait what happens first.

Anatomy of the crash: The wave structure of the core part of the bitcoin crash is exhibiting 'beautiful' Fibonacci relationships. It appears the structure of each declining a-b-c wave formation is creating golden ratio relationships where the length of the c-wave is 0.618 times the length of the a-wave. This produces short-lived, short-length, but sudden intense final c-wave capitulation points (illustration attached) —wonderful phinance! The crash is now half-way through, with core "fear" stage yet to unfold.

OP I'm a self shilling dev, you are a paid shill, worse than a lowlife beggar person like me, have you checked Waves decentralized exchange? my deved project a.k.a activity tokens are in there to grab while still cheap. honestly the man (me) looked at the abyss for a paid prostitute and abyss said: $50 for 10-11 minutes alone in a room, $20 to rent a room. you are talking about a currency with $193 Billion market, you are trying to trick people into selling Billions of dollars in Bitcoin. can I have $70? if you have saved every body Millions, $70 would be nothing (come on now, a man has got to eat right?)

I accept Bitcoin, send that $250 $70 to me and have me as your shill, you could find my Bitcoin address on my profile, send it to that segwit address located on skype box.

Actually, yes, the goal is to attempt to be ahead of the market to some extent, but no one can really know the market exactly.  So, in that regard, Warren Buffett (even though the goofball is against bitcoin), also says to buy (whatever asset it is that you have long term confidence) as the price is going down and to sell as the price is going up.  So, when exactly you execute your buy/sell price points is going to be differently determined by each person, so if the price is continuing to go down, as it seems to be doing now, then it would not hurt to be buying in increments.  My current price increments for buying are to buy more BTC, about every $1k price drop.

Who don't know there will be bullish in this month of January, same thing happened last year

The greatest investor of them all, Warren Buffett, has said "Be fearful when others are greedy and greedy when others are fearful".

You must be a paid FUD shill like the OP.

He did. Check the thread's date, he warned everybody that it would start the 15th a week before it did happen

Don't be silly! That is a valuable info for everyone!

Anyone should be able to look at the CHARTS and SEE that a crash is a very big possibility, because of what's been said.

Those who don't want to consider that possibility are ONE TRACK minded (as I was many years ago!) and i payed for it.

We all learn our lessons.

I heard a lot of old investors saying: NEVER GO AGAINST THE MARKET! (what tha fuck is that, i asked to myself!). Well, it means the market is always right. If you see it rising, get in the wave! If you see it going down, GET OUT! If you're a believer, you may get slammed, depending on how long you're invested.

Did he peer into his crystal ball and see the future a week prior?

I'm providing real-time analysis into the 2018 Crypto Crash, and thus far all my free trade recommendations have been accurate.

Actually, I think I'll stop now then since its bothering everyone.

Goodluck, Goodbye & Godspeed.

This guy warned everybody about the crash BEFORE IT HAPPENED and you're somehow mad at him ? That's quite ungrateful.

@xxxx123abcxxxx: I'm for one extremely grateful, if it goes < $8000 within a week, as you predicted, I'll wire you $250 as a thank-you.