Nights Watch by Afrikoin

[quake313]

Guys,

if I understood correctly, the depth of correction will depend on the volume and severity of the first leg down, is it right?

For example, if we somehow crashed 32% from ATH in the span of 48 hours on fairly high volume it could be all of it? Or is longer, perhaps 12+ month period of downtrend neccessary at this point? I am all ears for your input. Thank you.

We are not in a bubble. There will not be a 12 month bear market.

[Afrikoin]

Guys,

if I understood correctly, the depth of correction will depend on the volume and severity of the first leg down, is it right?

For example, if we somehow crashed 32% from ATH in the span of 48 hours on fairly high volume it could be all of it? Or is longer, perhaps 12+ month period of downtrend neccessary at this point? I am all ears for your input. Thank you.

We are not in a bubble. There will not be a 12 month bear market.

It will most certainly not be 12 months. I am expecting it to be sharp and quick. So possibly 3- 6 months, just in time for a bull towards end of 2017. (I say this based on Vinnie's $2000 projection by end of 2017/early 2018).

[Afrikoin]

EW is not always bearish

Here is what happened and some charts i had put up.

Notice how market played out exactly as expected

Chart 1, 2, 3, 4

[Afrikoin]

1 Bitcoin is now more expensive than a troy ounce of Gold . Huge milestone for a new monetary future

welcom to the future

[Afrikoin]

THROWBACK!

One of my first charts on this forum back in 2014.



I was a noob back then, just like you lot

I remember coming across chessnut and rynideclem's thread. He was forecasting a futher drop from $275 down lower

Here is the chart.

It happened exactly as he said it would, even the bounce and bounces that follow.

That day, i knew i had to learn EW, somehow.

[molecular]

I dont get it.

What is with you people.

Im here sharing on my thread. Cant a guy have an opinion? Jeeez!

I agree with you. If your analysis is bearish, so be it. Why hold it back from us. It's just your analysis (and it might not even be your only take on things), people don't have to "believe" it. Everyone can have their own view.

[Afrikoin]

China No longer controls the price of Bitcoin

https://www.deepdotweb.com/2017/03/02/op-ed-china-no-longer-controls-price-bitcoin/

[Afrikoin]

Thanks for putting your thoughts out there Africoin.  I appreciate your efforts. I don't expect anyone to be able to predict the future and there is no sense in being angry when the world or markets inevitably don't play out as we wish. I'm almost 100% coin atm but have been taking small profits on the way up to prepare for a bear phase and to lessen any emotional blow of a quick drop on bad news.  One's own emotional state is as important as that of the market and probably a lot more important in fact.

thank you!

[Afrikoin]

On the russian forums, masterluc is saying this could be wave 3 of (i) 3?

Or just part of the supercycle wave 3. Google translate is hard to understand.

Long term he is predicting $9500, from extrapolation of previous bubbles, and is saying this move will go far.

Seems very clearly bullish


https://www.tradingview.com/chart/BTCUSD/fvhCAiH9-EW-development/

OR. We are in wave 5 of a new pace of trend. Might be 1600 for top.

[BitcoinNewsMagazine]

A short squeeze could over ride any Elliott Wave count https://bitcointalk.org/index.php?topic=1792524.msg18051540#msg18051540

[koryu]

A short squeeze could over ride any Elliott Wave count https://bitcointalk.org/index.php?topic=1792524.msg18051540#msg18051540

agree, books are very thin above $1300, if we go there shorts will be in trouble

[Afrikoin]

John Bollinger indicator

https://twitter.com/bbands/status/837721612396875776

[Afrikoin]

https://twitter.com/CarpeNoctom/status/837485473308295169

we have another 800% rally in us right?

[BitcoinNewsMagazine]

John Bollinger indicator

https://twitter.com/bbands/status/837721612396875776

Good point. If you take a look at weekly BBands on Bitstamp we have two weekly closes outside the top band and three closes usually signals a reversal. On the daily chart we already had three closes outside but price is still advancing. The Fibonacci extension at $1380 shows a level where taking some profits might be a good idea.

[Afrikoin]

Episode #37: John Bollinger, “People Have This Time-Frame Confusion That I Think Does A Huge Amount Of Damage”


http://mebfaber.com/2017/02/01/episode-37-john-bollinger-people-time-frame-confusion-think-huge-amount-damage/

[Afrikoin]

Episode #37: John Bollinger, “People Have This Time-Frame Confusion That I Think Does A Huge Amount Of Damage”


http://mebfaber.com/2017/02/01/episode-37-john-bollinger-people-time-frame-confusion-think-huge-amount-damage/

Very good listen

John Bollinger talks about Bitcoin at minute 47.5

[molecular]

Good point. If you take a look at weekly BBands on Bitstamp we have two weekly closes outside the top band and three closes usually signals a reversal. On the daily chart we already had three closes outside but price is still advancing. The Fibonacci extension at $1380 shows a level where taking some profits might be a good idea.

Yeah, close to $1400 might be a good place for a local top and a healthy correction (testing $1000? or even lower?). Timing also could fit nicely with the ETF rejection.

[Afrikoin]

[Afrikoin]

Head and shoulders pattern on the 4 hour chart

This is actually the beginning of an a-b-c correction on the 2h - 6h chart

after our EW wave 5 top on the 2h - 6h chart

This one has taken the form of a head and shoulders

Now what is important here is that because the nature of EW is fractals, the same fractal going on on the weekly and 3 day charts ie a wave final wave 5, will also correct in an A-B-C fashion!

Question is, what shape or form will it take?

[york780]

lol JUST when you posted this chart the price drops  .
Keep up the good work africoin!