Total Market Cap in a Decisional Moment: My view now...
400 Billion USD at the time of writing this post.
We are at the Highest High of the year. Moment to see what are the options about the sustainability of this amazing and awaited Uprise.
Applying Elliot Waves theory you can always have at least a couple of readings about the current configuration.
Since we are coming from a correction after the last rise of August 18th, I can see the following BULLISH short term Scenario:
If we assume that the correction was finished on early September by building an A-B-C, the main count I see in the Short term is the green one (Number-in-circle).
The current Wave on going in this count is the THIRD which can be decomposed in blue subwaves where we count already 5, so, mostly the end of the THIRD wave is close to finish if not already done.
A BEARISH Short term scenario would be to assume that the correction is not finished and that what we are watching in the screen is a 3-3-5 Flat Correction:
As you can see, we should be watching the conclusion of the B-Black wave.
Still B-Black wave could also go higher and go beyond the start of the correction, if so, what we get is an irregular 3-3-5 Expanded Flat Correction.
The "ground" of C would be somewhere between the 113% (320 BUSB) and 127% of the wave A length for the Regular Flat and between 127 to 168.1% for the "Expanded" (300 BUSD).
Both Counts are BULLISH MID/LONG-TERM, the first option, the one of the first chart, would get invalidated if the green 4th wave retraces lower than the 1st green wave, in this case we would see the reassurance of the second scenario...
I'm sharing only my quick trading Ideas here, not financial advice at all ;-)
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
NO Financial advice - FINE :P
Just tell me one thing, should I buy more BTC at this price or wait for a week to collect it on a lower price?😇
As I shown I think the counts indicate both a slight correction, the second deeper than the first, perhaps split your buy in two, 50% now and 50% in a few days...what do you think?
but always DYOR ;-)
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Makes sense but I am wondering if the correction will take the price deep into the 10K zone. That's why I am waiting but I also don't wan to miss out on this price if the price is ballooning higher.
My DYOR is reading your post as well 😇😂
Appreciate you read it ;-)
I'm not good at TA, but the first chart looks much more logical to me. If there is any logic in crypto. I am happy to see prices are getting North, but I still believe the real deal will happen next year, hence I don't have too much expectations from 2020.
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I agree with you, the big pump, if any, should come in 2021, I don't see any reason for "mass adoption" now ;-)... in the meantime, let's accumulate.
I guess you wanted to write 2021. It really makes sense to accumulate and that's why I don't feel like selling anything, especially LEO. I have my diversified portfolio, it's clear that it won't make me rich but at least a bit more financially secure, and for chips and beer I will for sure sell HIVE. Interesting times ahead though.
I am for the bullish scenario!
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Sea como sea tiene que corregir, segun tu analisis y me parece que mas van a sufrir las alcoins.