Rizk
Short

Further Down side if red box doesn't hold

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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I have received numerous emails on my view on Bitcon and Cryptos. I have tried number of elliott wave permutations WXYXZ, ABC etc. I'm happy to be proved wrong as I know may people have invested their life savings. But the way I see it if the red box is breached then one of the possible scenarios is that we go towards the blue box levels and go in a period of stagnation and likely see a cup and handle pattern. I can see that happening in some of the other alt coins so it appears to be one of the possible scenarios. Best case scenario is we a see a bounce, but i still think that would be just a bull trap.
I fully agree with the analysis. At the bottom of the drop, I expect between 1900-2000 usd. After that, however, the steep rise of yours may be realistic.
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I completely agree with your Idea ,I too short on it and precisely 24hour countdown was over for me
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