Big Picture thoughts on BTC

٢ مايو ٢٠١٨

The question of 2018:

Is it a BUBBLE BURST ?

or just a CORRECTION ?

Observations:
Using a line chart (on close) eliminates noise.
BTC routinely retraces to 786 in all time frames.
This correction was a typical ABC (B=A*618, C=A*2.0)
Bears tried twice to push ABC to full extension.
Bears still might accomplish full ext to 6,000 at most.


Conclusions:
This is just a normal ABC correction of Bitcoin.
And it is not a very severe one at that, looks done.
This ''crash'' may just be wave 2(!) of 5.
If this wave 2, strap in for a wave 3 space trip.