What does this title sound like? if you guessed "PANIC" you got it right. Then what does it sound like before the Panic? Denial! and it sounds like this. "BTC is here to stay. it will come back." As much as I agree with the fact that BTC is here to stay that doesn't mean that I'm going to sit on it while it goes through a contraction cycle. Then what does it sound like after the Panic? Capitulation! and it sounds like this. "I'm getting 100% out of the markets. I can't afford to lose more." This is what I expect to see in the next few months leading up to Feb 2020.
Now, let me go over the chart. I applied elliot wave on the NVT signal. Simply put, NVT is a volume of traffic flow in BTC blockchain. wave and flow. Two indicators go hand in hand. So let's see what it indicates. We just had extended wave 5 on NVT. That means we might have deeper contraction. based on the previous contraction, we might fall below 200 week moving average which will become resistance for majority of 2020.
Now, let's look at the big picture, we have Fed easing monetary policy, lowering rates. People begin to lose faith in fiat and looking for the alternatives. Considering the current atmosphere, we know BTC will explode higher. But we also know public moves slow. we have election in 2020. Fed will continue to lower rates into 2020. But that won't resolve the problem. More drastic measure will come. That is the time when BTC will start to shine. Wait patiently.
Plan accordingly,
Now, let me go over the chart. I applied elliot wave on the NVT signal. Simply put, NVT is a volume of traffic flow in BTC blockchain. wave and flow. Two indicators go hand in hand. So let's see what it indicates. We just had extended wave 5 on NVT. That means we might have deeper contraction. based on the previous contraction, we might fall below 200 week moving average which will become resistance for majority of 2020.
Now, let's look at the big picture, we have Fed easing monetary policy, lowering rates. People begin to lose faith in fiat and looking for the alternatives. Considering the current atmosphere, we know BTC will explode higher. But we also know public moves slow. we have election in 2020. Fed will continue to lower rates into 2020. But that won't resolve the problem. More drastic measure will come. That is the time when BTC will start to shine. Wait patiently.
Plan accordingly,