This is really a strong possibility, I know the chart isn't showing much at all. If you are interested in the analysis I based my decisions on for both ETH and BTC please check my recent published ideas. (or for convenience the images below)
65% gives us exactly a really strong support line for both ETH and BTC, so it all matches pretty well. (277$ was the start of the new cycle of ETH, 5860$ was also the start of the new cycle of bitcoin after the 2017 - 11 small correction). This will be the last bull run for all alt coins before BTC starts correcting and dropping all of the prices with it.
This is again just a really high possibility which I believe in. Again check the charts I published and you will see why I'm thinking this way.
Q: Why do you think this correction is different than all the others?
Well BTC had really strong corrections at the beginning such as dropping from 1200$ to 400$, so kindoff this correction is no difference. Bitcoin went parabolic and the parabola was violated. Of course no stock or currency in the world can just keep increasing forever in such manner. A correction is required before the beginning of a new cycle that will bring us new all time high. (correction is actually really healthy for attracting new investors with fresh money for the new cycle, as no one likes buying something that is expensive.) (the new cycle will be like all of the other cycles, an exponential growth)
Again this is just a possibility, meaning it can either happen or not. That said, Alt coins are going to be increasing in value as Bitcoin is having a rough time with resistance that is hindering its advance.
What alts should you invest in?
I suggest high volume alts, don't take the risk with coins that you can get stuck in due to lack of volume. I have done the analysis for couple high volume alts in my page, feel free to check them out.
DCFreak
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Just as mentioned, Alts are going up right now. 10% gain in Sia and DGBm and DOGE is moving up. I wouldn't be greedy with alts, try to sell off at the first target and stay either in BTC to claim your B2x or switch to USDT until we have a clear vision on the trend.
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Reminder... Once Alts stop pumping get out of the market! wait for a trend confirmation. Be in control don't get controlled!!! If you want B2x then buy right before the block and sell right after, or do whatever you think is right. Im just giving some suggestions.
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Read the post above if you are confused about segwit2x and the new coin that will fork.
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dont fall for the bull trap.... Trend is still down as called a week ago.
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Bunch of alts increased 50+% since I did this call. Now.. dont buy any alts and stay in fiat. BTC as mentioned takes everything down with it.
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... Still a valid possibility, every day I believe in it more.
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Uhm Uhm...
Said alts will boom for one last time... and they did. Said that after alts boom BTC will drop.... and its dropping.
Hopefully, someone out there used this idea and benefited from it.
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dont fall for the bulltraps. Its going down...
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Wow.... didn't even realize that I had this trade...
Dec 27th, more than a month ago when BTC was at the peak still. called it!
@DCFreak, thanks for the advise, can you please tell, more safe for now is to stat in usdt, and wait until there will be huge dump, or breakout 17k?
DCFreak
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@TheCheater, either invest in rising alts and cash out at the first target or even before the first target, done get greedy.
Or stay in BTC, if it drops below 13500$ then correction is confirmed, then you sell.
If it goes above 17500$ then most likely it will keep rising in which you should keep holding BTC.
Or if you dont want to risk either side just stay in USDT. up to you
NewYork888
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With all due respect to your excellent charting the suggestions you make here re get in here out three days later etc are EXACTLY how day and swing traders and especially new traders go flat broke. You also advise on Dec 27th to " stay in USDT " are you kidding me? USDT has been a major time fuse for the past six months and last week "dismissed" their auditor. The first of a very serious red flag. As I said your charts and EW etc are excellent but exceptionally risky to the novice investor. That said we wish you luck.
DCFreak
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@london55555, Dec 27th was before the new Tether news that they broke up with the auditor. So it was pretty safe at the moment, and the volume supports my argument. I was personally in USDT.
I was one of the first to call out USDT on tradingview when the auditor left them, check my posts. I made it clear to warn everybody about USDt and that they should only hold USD in coinbase.
This was a long term signal. Candles used are weekly candles. I don't understand the "swing trader" part.
Non of my BTC signals here were for swing trading or hourly trading.
NewYork888
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@DCFreak, Thank you for the reply but im very well aware that Dec27th was before the auditor news but USDT was under investigation at that time as it is now because they DO NOT have the underlying assets to support the NAV. They didnt have them on Dec 27th and they dont have them now. As to the volume supporting that theory as to it being solid that doesn't hold water - what does hold water is the fact that even though it's been around for some time it was never listed on Coinbase - why? because they did their DD.
NewYork888
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@DCFreak, p.s. I wasn't trying to be rude when i said the "volume" theory doesn't hold water but that's like saying the 10 year note was a great buy 2 years ago because just look at that volume! Now there's a real time fuse. That said thank you for the great charts and good luck.
Cryptoxxx
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Nice call, but STORJ - SLR and ADA are going up anyway..