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RE: BTC Morniing Update: Will Bitcoin see $7,000? Check out my Analysis!
I'm not saying to Oct 25 as peak or down time. Peak could be $7k to $9k. This should give most Alts time to go phasic to Bitcoin.
Thanks for the reply. I'm trying to justify that logic with possible events. It seems likely that people will sell off their BTG as soon as they are able, putting most of their coins back into BTC and into alts. The re-buying of BTC would then drive the price to that range. During this time, as you mentioned, it will give time for Alts to go phasic to Bitcoin. Is that a sound summary of the logic?
Elliott Waves states that a news or an event shall arrive to justify the forecast, and never the reverse. This means Technical Analysis begets fundamentals and not the reverse. For this reason, I almost never try to jive upcoming events with my analysis.
Loud and clear, thanks Haejin!
2 upcoming forks rock with altcoin crypto world, I hope some correction afte 25th will happen and money flow back to alts, e.g. devcon 3 on 1st Novemeber, ETC conference on 18th November,..), it will be up and down between btc and other coins, I expect
I don't know how my analysis will jive with fundamentals, but Elliott Waves states that a news or an event shall arrive to justify the forecast, and never the reverse. For this, I rarely venture into fundamental analysis as TA begets it.
Elliott Waves states that a news or an event shall arrive to justify the forecast, and never the reverse. This means Technical Analysis begets fundamentals and not the reverse. For this reason, I almost never try to jive upcoming events with my analysis.
I found what I think is a great summary for newbies regarding Elliot Waves and I though it would be good to share with others. https://bullwaves.org/traders-guide-elliott-wave/ Hope this helps some folks!