BTC made an impulsive leg down from 19.5k to 5.8k in the first 2 months of 2018 which was W wave. After that it has been in consolidation moving sideways ie correcting the big move down before the next impulsive leg down to make the bottom. The X wave is becoming very complex and it will most likely form a flat since the first wave off the Feb low was 3 wave move. Any possibilities of X wave triangle have been eliminated by the break of the lows in May. The B wave of the larger flat was quite complex, within itself it had a running flat. Expect a new low from here and then big and final bounce to test the previous highs around 12k before the final capitulation taking us down to lows and accumulation.
That sounds scary, however I'm mentally prepared to HODL for the next 5 years (without looking at BTC charts day by day) hahah
kryptowavetrader
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@WealthHustler, Yup. Buying btc next yr near spring time will be the best for investment sake. BTC has already done pumping part and now its dump part of the pump and dump.
@kryptowavetrader Price won’t even break the previous low 5.7k. You will wait too long for 3-4k lol
Bullion_Money
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i agree to the movement not the price 1500 too low
kryptowavetrader
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@Bullion_Money, I see but most everyone is expecting 3k-4k right now. I think we will go lower to wash out all the buyers that got in at 3k -4k. Too early to tell right now I don't 3k-4k will be the bottom when people are ready to buy there.