[Daily Discussion] Monday, May 13, 2019 Bitcoin Markets |
- [Daily Discussion] Monday, May 13, 2019
- [Altcoin Discussion] Monday, May 13, 2019
- 2019 Cryptocurrency (Elliott Wave): Sell In May And Go Away?
| [Daily Discussion] Monday, May 13, 2019 Posted: 12 May 2019 09:06 PM PDT Thread topics include, but are not limited to:
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| [Altcoin Discussion] Monday, May 13, 2019 Posted: 12 May 2019 09:06 PM PDT Thread topics include, but are not limited to:
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| 2019 Cryptocurrency (Elliott Wave): Sell In May And Go Away? Posted: 12 May 2019 10:12 AM PDT 05-APR-2019 Cryptocurrency (Elliott Wave): Bull Market…? https://bitcointalk.org/index.php?topic=5128394.msg50467456#msg50467456 20-APR-2019 Cryptocurrency (Elliott Wave): Easter Update https://bitcointalk.org/index.php?topic=5128394.msg50681435#msg50681435 12-MAY-2019 Cryptocurrency (Elliott Wave): Sell In May And Go Away? https://bitcointalk.org/index.php?topic=5128394.msg51017295#msg51017295 Since the orthodox bear market low on 06-FEB-2019, the Bitcoin markets have surged to an average 125% gain in approx 100 days approaching mid-MAY. The 3-month rally has now retraced a Fibonacci 23.6% of the entire 2018 bear market. True to form, the bull market has exerted itself in a parabolic rise. From an Elliott Wave perspective, five waves appear to have completed as follows: Given the comparative magnitude and timeframe of the aforementioned waves, the waves are now being considered as MINOR degree. Barring any wave extensions, it appears five MINOR waves have completed, and thus completing the first INTERMEDIATE degree wave of the bull market. A wave of INTERMEDIATE degree usually elapses from weeks to months towards completion. The expectation now suggests the first notable pullback of the bull market to imminently commence, unfolding in a three wave A-B-C structure. The following are averaged target zones for the pullback, using BITSTAMP prices: The first notable pullback of the 2015-2017 bull market retraced approx 78.6% in size, elapsing approx 6 months until late AUG-2015. A decline to the 06-FEB low would terminate the proposed wave structure, and quite possibly the bull market. Once the pullback completes, the third and most powerful wave of the 2019+ bull market ought to commence towards the psychological $10,000 level and beyond. Since 2016, both the stockmarket and Bitcoin markets have been in synchronisation: both started bull markets in 2016, both had bear markets in 2018, both resumed bull markets in 2019. Seasonally, the "Sell In May And Go Away" adage is currently being expressed in the stockmarket. Since the beginning of May, the Dow Jones has declined 4.50% —the largest decline since the 2019 bull market commenced. Should the Bitcoin markets decline in MAY, a continued synchronisation may suggest further declines in the stockmarket. A break below the 25-MAR low of 25,370 in the Dow Jones may suggest further declines, a break below the 11-MAR low of 25,200 would confirm a stockmarket pullback to be underway. If so, an approx 10% decline in the stockmarket towards Dow Jones 24,000 may be expected, followed by resumption of the bull market to new all-time highs. A rise above Dow Jones 26,500 ought to obviate the "Sell In May And Go Away" adage. Analysis is speculative, and charts are indicative of price/structure —not time. The projections may occur sooner or later than anticipated, perhaps not at all…! [link] [comments]  |
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