Hive account@cryptovestor, contrarian thinking is always beneficial in financial investment decision making. The majority of partakers get it wrong, so when everyone is rushing into to buy or sell, the wise money has long gone.

I mentioned Elliott Waves in a previous post, so I won’t repeat myself here, but “extended 5th” waves are the lemmings on a suicide mission. I am very tempted to pay $199 per month to Elliott Wave International just to see what their view is.... http://www.elliottwave.com/Trader-Analysis/Pro-Services/Cryptocurrency#startnow
No single form of technical or any other analysis is always correct. Looking at several diverse forms of analysis can lessen the risk exposure. Sometimes you just need to move to the side lines and observe. I wish it were easier.