crypto_gunther

crypto_gunther

Price may reach red resistance line.

crypto_gunther

If BTC reverses towards $6k then we might see some bullish action on the MCO chart.

crypto_gunther

Let's see if MCO can break out of its downtrend (blue parallel channel).

crypto_gunther

If MCO goes on a massive bull run that is proportionally equivalent to its first wave squared, where $1.66 is its bottom, then it will reach $3,514.98. Here's the math: $28.99 / $0.63 = 46.01587302 = n n ^ 2 = 2117.46056941 $1.66 * (n ^ 2) = $3,514.98 Wave 1: $0.63 - $28.99 Wave 2: $28.99 - $1.66 Wave 3: $1.66 - $3,514.98 The maximum supply of MCO...

crypto_gunther

The price is expected to drop since there is hidden bearish divergence on the daily chart. The price has formed a lower high while the RSI a higher high. I won't predict the bottom. But, a long term holder can add to their position anywhere between $2.12 - $0.63. We are still in accumulation phase. Only buy what you can afford to hold.

crypto_gunther

Maybe MCO has started a larger structure Elliot Wave 3. Its first wave rallied from $0.63 to $28.99. The price got absolutely wrecked during wave 2. This is not surprising. I wonder if MCO is ready to begin a massive and violent bullish wave 3. This really can't happen without Bitcoin. Meaning, we need Bitcoin to go on a massive bull run (Elliot wave 5) if we want...

crypto_gunther

Bullish divergence exists on the daily chart. The price has formed lower lows but the RSI has higher lows. Currently, the stochastic RSI is in the overbought zone but I think buyers will regain control of this market in the short term. The first major resistance is at $6k.

crypto_gunther Updated 

In my opinion, it's an ideal time to buy Bitcoin (and alt coins) with leverage. Here's why: 1. Bitcoin has completed its nine count on the monthly chart 2. Market sentiment at rock bottom 3. Overly-confident bears have been shorting this market for 12 months 4. Elliot wave 4 has dropped by almost the same proportion as Elliot wave 2 correction 5. There is blood...

crypto_gunther Updated 

In my opinion, I think Bitcoin is very close to finishing its wave 4 correction. No one can predict with any real certainty the exact bottom nor does it really matter. That being said, I personally think that Bitcoin will bottom out around $2,817. The bottoming process does not happen over night. A reversal is usually a slow and tedious process. But, there is...

crypto_gunther Updated 

I think MCO has the potential to reach $4,000 + during the next bull run. No, this won't happen overnight but will require much patience and discipline. Why do I think this? Well, let's get into it. MCO had an impressive rally during Elliot wave 1 from $0.63 to $28.99. What followed was a nasty complex wave 2 correction. It isn't clear whether wave 2 has...

crypto_gunther

We may see Bitcoin reverse back to the all-time high around $20,000 to form a giant cup and handle. I expect to see a double bottom to confirm the end of this long correction. This correction has been super nasty and ugly but it isn't the first one nor will it be the last one. Let all the haters and doubters get left behind in the dust while smart money buys the...

crypto_gunther

In my opinion, I don't think it is wise to use leverage at current price level. It is very tempting to buy in bulk. However, a better strategy is to buy in pieces as the price descends into the buy zone. Nibble into the market. If you go all in now you may lose your buying power. The time to buy with leverage is when the price dips into the buy zone. We can't...

crypto_gunther

Resist the urge to go all in at current price level. We may see Bitcoin's price cut in half to about $1,970. The blue fractal represents the same proportional drop from $20k to about $6k. It is better to buy in pieces. Nibble into the market. If not, you will lose much of your buying power. We need to accumulate at a severe discount. We can't predict the exact...

crypto_gunther

I don't think Bitcoin's correction is over. It may take some time. It is possible to see Bitcoin as low as ~ $2,800. We may see a flash crash where the price plummets to ~ $1,700. Eventually, Bitcoin will go on another massive bull run but I don't think that will happen right away. Maybe there will be a massive uptrend in 2021 with a climax near $300,000 by...

crypto_gunther

The patient will be rewarded. Ample opportunities exist to accumulate while Bitcoin and alt coins continue to sell at clearance prices. The game plan is simple. Buy and hold. No need to trade since it is virtually impossible to time the market with success on a consistent basis. Just buy and hold. The time to cash out may come in early 2021.

crypto_gunther

Maybe we will see a cup and handle pattern.

crypto_gunther

Posted for observation.

crypto_gunther

My personal sell target is featured on the chart. I'm not sure how long it will take but I'd say at least 3 years from the date of inception.