AW Bitcoin Analysis - Look Out Below, it's a Drop Bear...
Just a bit of a follow up chart with my suggested count for the beginning of this move down.
It is just the beginning of the first wave, so I expect to see prices fall from current levels.
We need to see a fairly decent drop in order to confirm the bearish thesis.
Many may be expecting this move to continue higher therefore it may be a little choppy to begin with.
As people see their fib levels taken out one by one, we should anticipate the move down to accelerate as it moves lower.
See all related ideas for the expected move down linked below.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
It is just the beginning of the first wave, so I expect to see prices fall from current levels.
We need to see a fairly decent drop in order to confirm the bearish thesis.
Many may be expecting this move to continue higher therefore it may be a little choppy to begin with.
As people see their fib levels taken out one by one, we should anticipate the move down to accelerate as it moves lower.
See all related ideas for the expected move down linked below.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
