BTC/USD [BITCOIN/USDT] Huge retracement on the whole cryptomarket comming?
About the charts
The first chart you see is on the logic alghoritme. The second one in normal view.
On the first alghoritme we see a big rising wedge! On the second one you see the beautifull elliot-wave pattern. The 5th wave or 3th wave up reached the 1.618 fibonacci level, the same level als the last crash.
I think there could be an abc-correction wave. With a total retracement of the whole cryptocurrancy market of 35-55%.
Some other information to think about. Correct me when i'm wrong!
First crash:
-20 june the total marketcap of cryptocurrancies was 115 million.
-16 july the total marketcap of cryptocurrancies 67 million
Trigger: The first bitcoin 0.34% fork?
Second crash:
-1 september the total marketcap of cryptocurrancies was 174 million.
-15 september the total marketcap of cryptocurrancies was 109 million.
Trigger: China Ban?
The last and upcomming crash>
It should be time for a correction of the total market! I think there is a huge change.
Trigger: I really think the Tether usd hack could trigger a crash.