Expecting the decline to conclude at either of the following BITSTAMP support zones...


At which point, the following criteria ought to signal a potential end to the decline:

1. A +15% bounce.
2. Positive divergence on a momentum indicator such as the RSI, on daily and 4-hr timeframes.
3. A rising impulsive wave structure consisting of 5 waves.
 

Yes, its possible with the following requirements...

1. An impulsive 5 wave rise from the 18-OCT-2019 low (so far 3 waves).
2. A rise beyond the 11-OCT-2019 high of $8800 approx.

Be careful here to all new investors.

Especially if you are engulfed in x100 longs.

This market is rigged, please search elsewhere for profit in this space, it is out there but not in top 5 right now or probably ever.

Top 5 is zombie graveyard but status quo has not ruptured yet, only when there is a flip will it be evident, and by then it is too late to recover permanent losses.

Flip event will transfer hundred of billions to solid projects in top 100, and trillions of migrated merchant business with branded cryptos using index platforms that can handle the txs requirements while remaining decentralized.

Most responsible thing for crypto elite to do at this stage is shelf OG BTC but everyone is neck deep from early gains.

Research the state of this soon to be fractured market, do not invest more than you can comfortably afford to lose.

There is no guarantee of reversal from descent into $5000, it could very well go down to low thousands and stagnate there during and after flip. Understand that market cap of top 5 is $200 billion dollars or 90% of total, everything of this will soon be redistributed to next gen projects that contribute to a better world.

A future BTC and top 5 dominance of single digit is possible. The future will be paid for by top 5 and merchant onramping, no one is stupid to enter top 5 with all this information available at this stage of maturity.

Finally let us bury these false ideas once and for all:

1. BTC is not scarce, there are tens of thousands of alts with better tech that can perform exactly like BTC or better, and most of these already went to -99.99% due to lack of support. Saying BTC is scarce is like saying the first copy of windows 95, kazaa 1.0, napster, DC++ or netscape or 56k modem installation cds are scarce and ultra valuable.

2. BTC does not and will not ever compete with decentralized tech that is scalable

3. Real decentralization is only possible through a myriad of merchant and personal cryptos, not monoliths.

4. Super powers control BTC since late 2017, they control CMC, all top exchanges, all leverage and lending firms. An investment in BTC or top 5 is a solid support of perpetual status quo stagnation which humanity already saw 10 years of, a wasted decade technologically.

5. BTC operates on greed, delusion, degenerate gambling, despotism. You get what you pay for, now go x100 long and sellout the future.

6. BTC was established on criminal syndication like the silk road, the only thing that happened is that even bigger criminals now control this market. 2017 ICOs were 99% scams, it is riddled with criminals and most recently white collars and corrupt international agencies.

7. Mining is 100% centrally controlled and a disaster of resource optimization allocation. This is why I bought eth in early 2016, a crypto that would make good use of energy allocation, unfortunately, did not scale.

8. Stop watching youtube pushers of top 5. Whether bearish or bullish, I am here to explain that the concept in itself is fast becoming irrelevant as new projects begin maturing. This is projects that you have never even heard of and will not discover until they are already x100, it is the reality of life as a mainstream investor, always late to wealth. I have been living, sleeping, eating crypto for 10 hours most days for 3 consecutive years with a period of interruption 6 months in 2017 while you were doing normal things like family, work, holiday, weddings, dinners, parties, etc. I am by no means the smartest guy on this board but simply brute forced a level of knowledge that will take other average joes the same amount of time investment to gain (many years).

9. Finally a contrarian view: yes BTC may go to $300 000 but it is a complete dystopian reality if that happens. Atleast until solid alternatives emerge such as AGI backed chains. For analysis of future scenarios there is alot in my recent history here on bitcointalk. It is building on conceptual models of society based on power dynamics throughout history and world mythology combined with silicon valley futurism. This is then extrapolated on blockchain technology and integrated with economic valuations as catalyst of progress because blockchain is like stocks but much more advanced. The state of top 5 has no room in that analytic space, not even close. We need those $200 bn for other things now and you must pay for it by x100 leverage all the way back to $400.

Upcoming approx support zones BITFINEX:

    $3270, $2650, $2150, $1650

A break below $1200 would rule out a possibility of a wave-x bull market.
 

Downloaded both. Thank you!

The graphs are made using TradingView.com for free. The analysis on the charts; i.e. the Elliott Wave labeling is manually done by myself and doesn't require equations.
The internal structure of the waves can unfold in many possibilities; i.e. the assumed Triple Zig-Zag structure isn't going to plan as expected; however, the overall larger wave structure thus far remains in place.

The graphs are always indicative of wave form and price, not time; the analysis could unfold sooner or later.

Amidst a global stock market flash crash, a spectacular sell-off continues in cryptocurrencies at an acceleration quicker than anticipated!

Rather surprisingly, the 61.8% Fibonacci retracement level from the all-time highs, and nearby zones of clustered support levels (derived from wave extension relationships); have all failed to provide any meaningful areas of confluence.

And so therefore, the next natural support zone is at the 78.6% Fibonacci retracement level from the all-time highs; i.e. at $4257 (Bitfinex).

In regards to the anatomy of wave formation, a rare Triple Zig-Zag structure may be in progress to conclude the final stages of the first crash wave.