Hi @rok-sivante I don't know if this is accurate but do you perhaps see a reverse elliot wave forming? I think the first wave has formed which might indicate that Bitcoin is going to drop even further.
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Hi @rok-sivante I don't know if this is accurate but do you perhaps see a reverse elliot wave forming? I think the first wave has formed which might indicate that Bitcoin is going to drop even further.
I'm not an expert in Elliot Wave, though have never heard the term "reverse elliot wave."
if it's going down instead of up, and that is what you mean - it wouldn't be "reverse," but a larger correction.
i.e. if you had thought a correction was nearly complete - possibly because it appeared there was a 3-part downwave - it might only be in the a of an a-b-c correction.
have to keep proportions in mind too. given BTC has had huge upwards momentum the last couple months, it'd be surprising for any correction to be over so soon within a matter of days. a proper correction, proportionately, might be more likely to take weeks.
though again, this is not an expert outlook, just my two cents.
Hi @rok-sivante That's the term I was looking for 'correction'. I totally agree with you. This might be the first a of an a-b-c correction. I can't wait to see what 2018 will be like for Bitcoin.