Market Update June 15

in #bitcoin5 years ago

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This week's Market update posted to youtube. Today I discussed the way to manage the alternate possibilities in Ethereum, and how that is likely to lead to a strategy in Bitcoin soon.

Note that free 15 day trials are available for our trading room and community on Elliott Wave Trader, where I am a full time analyst. You'll rub noses with professional, amateur and traders in the learning process, while getting trade calls and ongoing direction for the market. No credit card is needed for a trial.

Note none of my work including the larger body of work for subscribers is intended to be a trade recommendation a I do not know your financial means, or risk tolerance. These are valid setups that can provide return, if using tight risk management with stops.

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Let's roll.. The market is boom now. Bitcoin is getting me so excited. I hope it stays that way cos my alts are doing well. Trading veil and ethereum with great profits.

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Your mate on the EWT board Garrett Patten still counts the longer term low in ETH as a wave 4 but you recently switched to a wave 2. The latter is according to my limited experience not projectable because who knows if we get an emotional third wave or another wave one? I respect if target is for subscribers only.

Yep. I disagree with him on this one. We don't follow group think at EWT that's for sure. Our analyst Arkady consider this wave 4 up in a 5 wave decline. I more strongly disagree with that analysis. But I can consider Garrett's with an alternate wave 2.

The market is looking very greener with the rise of Bitcoin, just recently checked my portfolio and found that almost all my alts like Eth, Veil and Ada has risen in profit

Do you view 3 of v likely completed June 16 just under 9400? Alternatively, could that be only 3 of 3 of v?

Too low in both regards in my view. We are still not likely done with 1 of v.

Thanks, maybe I am an order too low! So perhaps 3 of (1) of v!

To be clear, I was referring to i-v as the first impulse off of the December low, so i at about 4235, iii at 8400. In that sense do you see ~$10k as too low for wave v off of iv at 7500?

I probably could have been more clear with a chart. Sorry about that.

I don't think i of V at that degree is complete yet. I can't count enough waves.