Out of curiosity, I just checked last night the price action of BTC using EWT. In my book, the bear market started last November and we are now experiencing the most frightening wave, which is Wave C.
I keep buying SPS and HIVE and adding some SPT and DEC.
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Yeah, I don't know anything about that market analysis stuff.
Anyhow, it's just a game of probability, not an exact science. In my chart, 28,189 is BTC's 61.8% fibo retracement. That is expected to give strong support. In case, it will break down, the next base will be at 17,145, BTC’s 78.6% fibo retracement. Indicators like these are useful in stock trading. I am not sure if the same tools are applicable to crypto.
Interesting!