The consolidation continues. I am inclined to see 0.008-0.0085 as a short term resistance now. Unless we get there in 2 days, this is confirmed, and the 0.01 double top is confirmed as well (2014,2016).
If we resume the grinding slide that I am forecasting, it may take months to reach the target 0.0042. And of course there is never a guarantee that it is reached. If great news come, it is likely to throw the grind scenario out of the window.
If we resume the grinding slide that I am forecasting, it may take months to reach the target 0.0042. And of course there is never a guarantee that it is reached. If great news come, it is likely to throw the grind scenario out of the window.
I enjoy your posts and i do like your math well explained, but Risto, i have to disagree on this point.
The volume is declining steadily, and i personaly do not see all of your prediction becoming true, i think this will be much faster and harder.
Oh, so you believe the target is correct, but it won't take months to reach it?
Well that is why I said "may". What I especially mean is that do not believe the first panic flashcrash to 0.005 is the bottom. Take wisdom from Bitcoin early-2014. It went up fast (to $1100), but the following bottom ($220) was quite a bit lower than the April-13 high ($266).
So even if the low is 0.0035 it fits this scenario perfectly.
The speculator must take into account all price scenarios, and ensure that none of them is ruinous.