As We Ascend To The Heavens
7 years ago in #crypto by rok-sivante (77)
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Collapsing of major cryptocurrencies is a big blow. If people panic and start selling then that is how a disaster happens
Hey you, habla Español?
Great post @rok-sivante Elliot Wave is an incredible technique to learn. This is certainly one of the best ways to find good entry points. Thanks for sharing this.
I shared it in my Steemit Facebook Group. Hope its alright with you https://www.facebook.com/groups/steemitkings/permalink/1835496296741501
Your welcome. And of course! :-)
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.
Great post !
It's quite refreshing to see a few less "lambo" "when moon" posts today, but it must be rather intimidating for those who bought in at the recent peaks.
It's time to stop checking Blockfolio for a couple of days and let the storm pass over us.
lol. keen observation. :-)
indeed, it would not have been a great time to first get into the markets these last weeks with this test of patience.
yeah. constant check-ins at this point may not be the most conducive to mental health. (and on a side note, check out the Coin Stats app, which I wrote about a couple days ago. totally won me over from Blockfolio. supadope.)
I have the same opinion. I tell people who cared to listen that it is only a Ponzi scheme that would go forever high and never retrace till it scams. The only way to manage the dip is to tune off the FUD, and go outdoors and delete blockfodio since the temptation to look would be there.
Honestly I'm still in a Lambo mood. Yea we lost a little market value - what, 30%? Call me when a real dip happens. I'll be eating sushi and making futuristic electronic beats while the crypto rolls in.
As long as Steem Supply is giving me numbers like this:
I will be in a good mood.
haha! :-D
Patience is the key and until one learn to be patient he will continue loosing, many probably afraid of the price now and selling at a very low rate, bringing about huge loss but to the patient ones they probably going to hodl cause after the rain and hurricane, a new day awiats us with a brighter and better future than yesterday.
Although it did take time to read it all but it was worth it, thanks for your indepth knowledge and enlightenment about crypto world
🙏
I stumbled on this article by accident and I must say I find it refreshing to finally find some zenn in all this fuss. Some 'reality' instead of emotions, some 'keep the feet on the ground'.
I'm not the kind of person that just follows whoever or votes whatever. I checked your blog and on this occasion an exception: upvote, resteem and follow.
🙏
I have made mestakes in the past of selling when it whend down. And always regretted it later on. I have learned my lesson.
I keep my small portfolio and buy some more now :D
Tnx for your insight (and the upvote on my graphics work!)
😊🙏⭐️