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ll21LAMBOS21
12. Febr. 2018 01:08

Bitcoin's Correction: A Trail of Warning Signs for Stocks Short

DJ:DJI1M
Dow Jones Industrial Average IndexDJ

Beschreibung

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Bitcoin vs Dow Jones Industrial Average

BTC's Parabolic Move: 2+ Years
DJI's Parabolic move: 30+ Years

BTC's Correction: 70%+
DJI's Correction: 70%+?????

Is Bitcoin showing us where stocks are heading?

Kommentar

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Update: THIS IS NOT THE BOTTOM.
There are numerous opinions out there, I'm sure most are trying to figure out what to do on Monday.

To those calling for a stock market bottom here.. ignore them, and never listen to their "market bottom predictions" ever again... ever. They are wrong If someone gives you financial advise on a particular topic and turns out to be wrong, never listen to that persons advice on that particular topic ever again. their opinion is invalid.

cnbc.com/2018/02/06/art-cashin-in-my-50-years-experience-stock-market-is-bottoming-out.html


Corrective Elliot Wave Rule:
"An initial 5-wave move against the larger trend is never the end of the correction, only a part of it."

Chart of the initial 5-wave move against the larger trend:

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What is most likely to occur but STILL NEEDS CONFIRMATION:

An A-B-C corrective bounce to take place over the next few days followed by another 5-wave correction.

Quick sketch of the potential shape of this sell off. The prices are NOT accurate on this chart.

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QQQ Top vs. BTCUSD top
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QQQ is enjoying a game of follow the leader with bitcoin too.
Trend AnalysisTechnical IndicatorsWave Analysis
Kommentare
ricsalrod
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BTC is 370% above its 200 MA
Dow was 2.5% in the Friday low.

Correlation doesn't equal causation.
ll21LAMBOS21
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@ricsalrod, Agreed. Nonetheless, a parabolic uptrend has limited options to explore on the way down. A parabolic move up ends with a parabolic correction down.
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