Update BTC / USD. I do not think that panic is needed here

[SergiuDemerji]

This is similar to a coordinated dump that occurs in Crypto quite regularly. I still see some bullish signs when we bounced off at once from several important points of interest. We rebounded from the downtrend we broke last week, found some support there, and rebounded from the tendency to form the head and shoulders. It also coincided with the bottom of the 12-hour red cloud that found support.

This does not mean that we will not lose support again, so we need to be careful. This is a great idea about planning a 5-wave map, at the moment its mini-crash is just a little noise in our road map, and the goals and map are still the same as you can see in Elliott waves. I will be looking for some purchases between $ 9,100 and $ 9,600 USD at the moment. I still have a profit to play with trading 6800/11 400, so I can take a little risk here. The daily 50 EMA Line is right at $ 9,000, so we do not want to see a breakdown below $ 9,000 at the opening of a new daily. The gap there will see a free fall back down to a possible double bottom of the $ 6000 zone.

My goals remain the same, and I see this as an opportunity to improve the situation in our current trade.

[FrueGreads]

I completely agree with you, and I'm also bullish on bitcoin for the time being. We were facing some resistance close to $12k, but we were tightening the channel close to the level, and there was a good chance of breaking it in my opinion. The recent fud on binance kind of ruined all bull action in the past days, and this shows that the markets are still very cautious, and still sell on every bad news they get, without waiting for confirmation. As soon as this binace thing proves to be more fud, we should resume the growth again, in order to test $12k again. In the meantime, this is a great opportunity to take some chances and buy at a better price. If no hack was done, then we should get some decent profit from the current level to $12k.

[adaseb]

The reason for the huge dump is the Mtgox coins getting sold.

The trustee picks the worst time and way to sell the coins. Instead of setting market orders for small amounts or limit
Orders at different times and prices, they dump everything at once.

There is like 180K left of BTC to sell. And it scares most people.

[nicolas1979]

This is similar to a coordinated dump that occurs in Crypto quite regularly. I still see some bullish signs when we bounced off at once from several important points of interest. We rebounded from the downtrend we broke last week, found some support there, and rebounded from the tendency to form the head and shoulders. It also coincided with the bottom of the 12-hour red cloud that found support.

This does not mean that we will not lose support again, so we need to be careful. This is a great idea about planning a 5-wave map, at the moment its mini-crash is just a little noise in our road map, and the goals and map are still the same as you can see in Elliott waves. I will be looking for some purchases between $ 9,100 and $ 9,600 USD at the moment. I still have a profit to play with trading 6800/11 400, so I can take a little risk here. The daily 50 EMA Line is right at $ 9,000, so we do not want to see a breakdown below $ 9,000 at the opening of a new daily. The gap there will see a free fall back down to a possible double bottom of the $ 6000 zone.

My goals remain the same, and I see this as an opportunity to improve the situation in our current trade.

You have very detail explanation with good calculation, specially you use MA like I do. For this situation I agree with you even I also use MACD to predict long term period but basically my analyze same with you. Because of that I try to stay calm and prepare my back up fund to pull the trigger at the right moment. Unfortunately, I don't use Elliot Waves to clean up little noise in my plan. Maybe next time I'll use it again and thank you very much.

[dunfida]

This is similar to a coordinated dump that occurs in Crypto quite regularly. I still see some bullish signs when we bounced off at once from several important points of interest. We rebounded from the downtrend we broke last week, found some support there, and rebounded from the tendency to form the head and shoulders. It also coincided with the bottom of the 12-hour red cloud that found support.

This does not mean that we will not lose support again, so we need to be careful. This is a great idea about planning a 5-wave map, at the moment its mini-crash is just a little noise in our road map, and the goals and map are still the same as you can see in Elliott waves. I will be looking for some purchases between $ 9,100 and $ 9,600 USD at the moment. I still have a profit to play with trading 6800/11 400, so I can take a little risk here. The daily 50 EMA Line is right at $ 9,000, so we do not want to see a breakdown below $ 9,000 at the opening of a new daily. The gap there will see a free fall back down to a possible double bottom of the $ 6000 zone.

My goals remain the same, and I see this as an opportunity to improve the situation in our current trade.

You have very detail explanation with good calculation, specially you use MA like I do. For this situation I agree with you even I also use MACD to predict long term period but basically my analyze same with you. Because of that I try to stay calm and prepare my back up fund to pull the trigger at the right moment. Unfortunately, I don't use Elliot Waves to clean up little noise in my plan. Maybe next time I'll use it again and thank you very much.

When you do try to see moving averages it does really shows bullish trend and seeing now the pullback which isnt really just purely basing on technical matters but movements do base on fundamentals or whats currently happening as of now. Panic is never been needed if were to say.Id do rather love to see pullbacks or price corrections because these are the times that you can able to execute plans or make orders which will really be triggered if you do see the right spot.