Look to the previous wave patterns - they suggested the following scenario, whatever it may be. Recent correction is too deep and I expect new lows (after bounce, of course) - targeting 5500.
Idea invalidates above 6100.
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Bulls and bears fight. New lows ahead?
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Nice. Target in 5550 area reached. And opportunity to short again at 5700 and 5800, targeting to 5360.
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Very strong support at 5550. Break up to 3710 opens way to 3800. Break up 3810 mean new highs ahead.
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I'm sorry, I made a mistake in the update above: 5710, 5800 and 5810 respectively.
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Target 5360 reached. Likely, it's not the end of fall - strong support is waiting in 5100 area.
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Strong rebound up to 5950 area, but it may become into a leg B:
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Drop below 5750 - new lows expected. Break up to 6050 - new highs.
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Move up will continue, if price breaks up 5800. But not high — trend is turning to downside.
it dropped below 5750, also did you see fake 1000BTC market buys last night on finex? and spoofing. Someone tries to make everyone think that we're still in the bull run
Like2Move
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@alexplq, but I'm bearish. I don't think like you. They bought at bearish bounce, may be they sold higher. Like all traders do. „Someone tries...” — yes, all the time, even when you don't think about it.
What are you doing in the cryptocurrencies markets? The same things? :)
alexplq
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@Like2Move, yes, but the problem is that unregulated exchanges (mostly bitfinex) play with others.
alexplq
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@Like2Move, I don't think that normal traders will market-buy 1000BTC at 6000. Only those who don't pay fees. They buy their own orders and lose nothin as a result. Just make people think wrong about the real volume and trends.
Like2Move
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@alexplq, I take a careful look at the orders book, especially when there are few BTCs left out by a few people. It's stupid to rely on miracles that dissipate very quickly. Therefore, I am referring to the technical analysis and regularities that are also managing people with 1000 BTC. :)
rajsekharalla
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hi, same thought. expecting abc correction. waiting for long opportunity at $5100 - $5150 area. thanks for your timely update. have a nice day...
Like2Move
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@rajasekhar_alla, ...or long after break up to 6050 and some retrace.