Bitcoin has and continues to put in newer all time highs. However, I offer two time scales. The first is a Big Picture view of where Elliot Waves see Bitcoin at present and going in a few weeks to months. As shown in the chart, Bitcoin is currently finishing wave 5 of Wave III. This means once it's complete, prices will seek lower lows to put in Wave IV. This correction will be sizable and retrace could bring prices to $2,000 area which is where prior wave 4 resides.
The second time scale is on a daily basis going back a couple months to present day. This is basically a zoom in of the Elliot Waves showing that Bitcoin could be building the sub waves to wave (v) of 5 of III. The last sub waves have been labeled in red as i,ii,iii,iv and v to designate a top approaching. Once five waves are in place, what happens? A significant three wave retrace.
I've posted before that for me, such terminal waves are not times to buy but to take profits. And I've begun doing so, with much gratitude. Many have read my previous blogs containing the sell ladders for 2/3 of my Bitcoin holdings. I first started with 1/3 and decided to sell another 1/3. I may sell all, depending on how high Bitcoin goes.
Meanwhile, let's enjoy the Altcoin tide that is rising. And yet, this tide too share recede, once the Bitcoin moon wanes.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.