Poked right through the bottom of the neckline today but now sitting nearer the top of it. Care to give an update on how you see this unfolding for the bigger picture you have presented here? Typically, would this prolonged correction change the forecasted direction at all (e.g. go sideways for the next 3-4 months) or would price simply move in a wider channel upwards?
By the way, solid prediction on the retest of the neckline to just below $0.05. I'd say you nailed it! Now let's see if your wave three price target can be nailed equally hard!
just-joe
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@feej, Thanks Bro! Bitcoin is the big brother to this madness, and I see Altcoins and Bitcoin too well connected. This is what makes all crypto's dangerous, in that, there is really no place to hide. Once, if they do at all, dis-connect, it will make this a little bit safer environment to trade. Just my opinion. I will update DGB.
Also feej, I have observed many different cryptos, and while most look somewhat similar, I would indicate a slight difference with some. For example, DGB is NOT in a 1-2, 1-2 setup heading down, instead, it should count lower and then end, while others "look" like they may drop much deeper. We'll see if I'm right. Bitcoin, has a potential 1-2, 1-2 setup for a deeper drop.
feej
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@just-joe, Thanks Just-Joe. I look forward to the update. Bithares BTS has fallen a lot further than I thought it would... would this be a candidate for the 1-2,1-2 you are talking about or is it more similar to DGB?
just-joe
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@feej, I'll look at it...I wouldn't worry too much, I know seeing it drop is hard, but Bitshares has some very big moves heading north in it's future.
feej
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@just-joe, I need it to make big moves heading north just to pay to fix the stomach ulcer and heart attacks it has given me.
This is a Crucial point. Its starting to break out of the channel. It is going to have to impulse up top maintain or else it may retest neckline. Good news is that if it re-tests the neck line and finds support then when it starts the new channel you'll be looking at a higher target.
By the way, solid prediction on the retest of the neckline to just below $0.05. I'd say you nailed it! Now let's see if your wave three price target can be nailed equally hard!