BTCUSD Bitcoin Buy in May and go away
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I believe we will have a buying opportunity in Bitcoin soon, I expect and am I looking for the optimal buying entry in May 2017. I personally believe we need to get a price lower than Feb 6 2018 low which was $6000. I am looking for a drop most likely to $4500 - $5000 approximately. I expect the possible range of the drop is anywhere between $3000 - $5400 though.
Once we get a lower than $6000 price, then BTC will have completed the ABC correction and gives us the possibility to move forward.
I am looking for a large red candle on the daily chart in mid-May. My estimates land at around May 17. I expect that once we get a big red candle with lower prices, it will be actually a catalyst to drive the prices back upwards. I am looking at possible higher than $20,000 Bitcoin prices by October 2018. I expect another Bubble formation in Bitcoin later this year, estimated Oct 2018, and when that is complete, I expect a longer bear market.
A summary of what I think is BUY in MAY, SELL IN OCTOBER. We will see how this plays out.
This is just sharing my thoughts and ideas. It is not advice to buy or to sell. You should do your own research and make your own investment decisions.
Please let me know your thoughts.
Once we get a lower than $6000 price, then BTC will have completed the ABC correction and gives us the possibility to move forward.
I am looking for a large red candle on the daily chart in mid-May. My estimates land at around May 17. I expect that once we get a big red candle with lower prices, it will be actually a catalyst to drive the prices back upwards. I am looking at possible higher than $20,000 Bitcoin prices by October 2018. I expect another Bubble formation in Bitcoin later this year, estimated Oct 2018, and when that is complete, I expect a longer bear market.
A summary of what I think is BUY in MAY, SELL IN OCTOBER. We will see how this plays out.
This is just sharing my thoughts and ideas. It is not advice to buy or to sell. You should do your own research and make your own investment decisions.
Please let me know your thoughts.
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Error Buying opportunity is May 2018 - Not May 2017 :)ملاحظة
My estimates on a possible best entry to be around May 17, 2018. Give or take a few days.ملاحظة
I have been carefully studying the previous time periods history and I believe that the current bullish move should end by May 5-6 if not before. I have had some of the prior time periods point to near May 17, 2018 for the next low but on reviewing more, the low could be anywhere from around May 17 - to the first week of June. I will consider a big sell off, anytime around then to be a buying opportunity.ملاحظة
Also, I see another potential turning point of the current bullish run peaking possibly around April 26. So look for either around April 26 or May 5 to be the point for the market to turn downward.ملاحظة
As I said look for a possible turn-around at April 25-26. If there is no turn around then, look for May 5-6. Right now after studying the charts I suspect that April 25 or 26 may be the short term pivot point downward. Avoid long positions close to those dates.ملاحظة
Again I want to point out that the current bullish move, amazing as it is, will soon end. If you don't mind taking a risk, you could take a long position in BTC or LTC or ETH with a stop loss in place and plan to sell around Apr 25 or 26. But, this is for short term traders ONLY! Because the bear market is not over yet. We still need one more low (possibly more, but a minimum of one more) before the bear market is over. Right now the level of risk of long positions is high, but if you want to try it, keep your eyes open and be ready to sell around Apr 25 or 26, Just my opinion. If the bullish move extends past that, the next pivot point is around May 5 or 6.ملاحظة
Here is my update on the Nasdaq 100 and the trend seems to be coinciding with Bitcoin, at the moment. Here is what I wrote on the Nasdaq 100: In the short term trend up starting APRIL 3, we have done Elliot waves 1-4. I believe there will be a fifth wave - to me looks like topping out around April 25 give or take a couple of days. I do think the top there may present a possible short selling entry. I am looking for it to reach around 6900 - 7000 possibly next week. Of course no one knows for sure, but this is my target. Based on some of my time period studying, it looks like the market may trend downward after around April 26 - to estimated May 17-20. Interestingly, Bitcoin seems to be following this same trend. I expect short term market lows in the stock market and Bitcoin around May 17ish. But honestly, I don't exactly know how severe the sell of will be. Not advising you to buy or to sell, but if you were thinking to short sell the market or Bitcoin I believe there may be an opportunity approx Apr 25-26. Have a stop loss in mind in case it goes the wrong way.
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Link to my Nasdaq 100 chart
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I see May 16 as a possible very short term bottom, but as I study LTC and BTC charts, I believe it is pointing more to a lower bottom around May 30 - June 2 approximately. I do believe LTC and BTC will turn upward soon after that in June. I am looking more for better prices for long positions in the May 30 - June 2 approximate dates.ملاحظة
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