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Out of curiosity, I compared the last big correction with the current one. If we're gonna draw conclusions that the history will repeat itself then we're pretty screwed for the next year or so. The last crash did a classic ABC correction down to around 70-80%. Then 2 weeks later it bounced back quickly and crashed back down again, following a long correction. If we're gonna follow the same pattern, my target is around $17 000 and after that we're going down for a while. The only thing that will make my count invalid is if we break new all time high above $20 000.
Is this prediction congruent with many of my altcoin analyses? Yes, because based on this thesis, bitcoin will possibly pull all altcoins with it one more last time before heading back down and completing the C wave. Remember, this are just my speculations I'm sharing to start discussions and raise awareness. What do you think?
I hope you guys like the content I'm putting out. I want to evolve and would like to know if there's anything I can do better to serve you. Any suggestions on coins or more fundamental analyses? I wanna hear your thoughts steemians!
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
