BTC VERY UNSURE, APPROACHING A VERY DECISIVE MOMENT AND MORE...
Personally for me there's totally no proof of a bullish trendreversal as we can see a serious resistance on the (dotted pink) descending trendline... from the top of BTC to the first major break out attempt.. I would like personally for BTC to get through the resistances easily and confirm an uptrend, but I have the feeling that BTC will confirm many times the bottom and flatline to create a larger cup effect...
As I had a feeling with Ripple which behaves extremely as other alts which gained massively, BTC could also confirm the top of the previous 3th wave on a larger degree if 20K was our 5th. So if this correction happening from 20K, is a major correction, 20K was defenitely the end of a cycle, and we're not done yet... so a longer confirmation of a downtrend or sideways action should continue... so if the end of my 3th within this first cycle was 3000 USD ! I would not be surprised if we hit it again (shortly)
On the contrary I do still believe in a hardcore BTC followers and offline storage, but with the time being and BTC evolving and creating more doubt, cold storages are reactivated and digged up in any way possible to get a human hand to control it... Let's hope for the lost and confiscated BTC's left !
If this is not the end of a cycle, there's no need for a reconfirmation of the end of a 3th, and the parabolic move should continue... which is more clearly seen on the log scale and it wouldn't affect the parabolic movement in anyway... so I repeat if this is the end of a cycle, the parabolic movement would defenitely visibly be broken and this would confirm a much longer retracement...
Up till now the descending pink trendline is for me the most important obstacle !
Personally I wrote this pessimistic view as a more objective approach, but subjectively I believe in a uptrend, and I am still in with most of my capital. I did join though the shorter term trading after the 12K rallies.. and as advice... you should better protect your capital of-course and implement stop losses wherever necessary...
But the point is... are you a believer or not?
As I had a feeling with Ripple which behaves extremely as other alts which gained massively, BTC could also confirm the top of the previous 3th wave on a larger degree if 20K was our 5th. So if this correction happening from 20K, is a major correction, 20K was defenitely the end of a cycle, and we're not done yet... so a longer confirmation of a downtrend or sideways action should continue... so if the end of my 3th within this first cycle was 3000 USD ! I would not be surprised if we hit it again (shortly)
On the contrary I do still believe in a hardcore BTC followers and offline storage, but with the time being and BTC evolving and creating more doubt, cold storages are reactivated and digged up in any way possible to get a human hand to control it... Let's hope for the lost and confiscated BTC's left !
If this is not the end of a cycle, there's no need for a reconfirmation of the end of a 3th, and the parabolic move should continue... which is more clearly seen on the log scale and it wouldn't affect the parabolic movement in anyway... so I repeat if this is the end of a cycle, the parabolic movement would defenitely visibly be broken and this would confirm a much longer retracement...
Up till now the descending pink trendline is for me the most important obstacle !
Personally I wrote this pessimistic view as a more objective approach, but subjectively I believe in a uptrend, and I am still in with most of my capital. I did join though the shorter term trading after the 12K rallies.. and as advice... you should better protect your capital of-course and implement stop losses wherever necessary...
But the point is... are you a believer or not?
There is already a 5 wave countdown visible from the double top of March 24/25. If this thing drops to the 78.6, it could likely stay in the yellow descending trendline which I've drawn to show when BTC is unsure, but sure in the downtrend. On a larger degree there are less fluctuations as everyone can see we are nearing the end of a the largest triangle, and 2 strong trendlines (pink descending and light blue ascending) So this is the end of everything in order to get things moving drastically...