Is The Blood Bath Over Yet? (Part 2)
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So after todays price action, my take is that we've entered the 4th wave of an ABC correction, meaning we will see a little rise in price. This is the point where people start hoping again, only to be fooled, left with shame and despair while price starts dropping again. It's a risky move but there's some merit to sell off a small percentage of your BTC at this point if you can handle the risk of being left out if the price rises instead.
I see that some alt coins have recovered a little during this correction pause, but I would be very surprised if todays gains won't be smashed again when Bitcoin drops. I've set some low buy orders on coins I believe in long term and some have been bought. Let's see if we can scoop up some cheap coins after the next drop. I'm also ready with cash to buy Bitcoin at: $4 000 to $9 000. Don't think it will drop that low but you never know.
Are there any coins that you want me to analyze? It's a difficult spot we're in and I hope I can share my thoughts and help you in any way. In return I'd be extremely happy and thankful to get an up vote or resteem. I see that my Twitter and Steemit followers are growing everyday and I will show my gratitude by rolling out an idea I've been thinking about as soon as this correction is over.
Trade safe and I wish you major gains!
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Bitcoin Update
Steem Dollars (SBD)
Looking like we're starting a little uptrend in the D wave. Expecting lower lows after that. I still have a target but wouldn't make any moves right now, would wait for another dip. If you wanna play it safe, set levels from here down to end of E wave.
Golem (GNT)
Same as above. Waiting for E wave to kick in before buying in.
Steem(STEEM)
Soon entering the last wave within the C wave. Setting buy levels as soon as it starts dipping substantially.
Verge (XVG)
Soon entering the last correction wave. Won't be fooled by this small impulse wave we're in right now.
Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.