MatthewDixon

Looking like a text book wave 4 to me, in perfect alternation to wave 2 and with a long drawn out structure before a probable 5th wave down to finish the #BTC decline

This is the BIG picture for #XRP
The wave structure looks right and if correct we should get a mega rally to new ATH in the future.
It is possible that we begin the upward journey from here but it is more likely we see more downside first to give us a lower low for the C wave.

Just 13 days to go....
seems #InterestRates will stay on hold again -
Unless we get any #Inflation shocks (due 11th March)
For now the first cut expectation has been pushed out to September though a lot can change in 6 months that could affect Interest rates, #BTC & #Crypto

Seems a bit too obvious (which concerns me) with a perfect 4th wave of the larger C down.
Assuming a=c then we should soon turn lower for a final 5th down - then perhaps time to fill our #BTC & #Crypto bags

Looking as though the a,b,c interpretation is the right one for #BTC perhaps where c=a (the most common relationship)

Looking as though the a,b,c interpretation is the right one for #BTC perhaps where c=a (the most common relationship)

Nice contrast between #BTC and stock markets around the world 😀

#Bitcoin consolidation continues, reflecting indecision with respect to both the Geopolitical and Macroeconomic situation.
Eventual clarity will likely cause a violent breakout either way.
The most likely break direction is downwards towards our $BTC 52k target, based on the Bear Flag nature of the consolidation

$BTC 52k is a logical target where C = A
Wave structure fits well and I would expect to begin to DCA from this level (using DCA strategy) because clearly we could go beyond equality and perhaps to C = 1.618 x A
#ALTs would follow a similar trajectory
If correct, rally to follow!

Taken profit on long #BTC
Some options are bearish so I will step aside and be happy with a modest profit

VERY INTERESTING
#GBPUSD did NOT close outside the long held parallel channel, which has historically represented major #BTC turning points.
There is a chance that we will soon see softer monetary conditions in US (weak #Dollar) that will spur #ALT season and $BTC #Altcoin rally

We have all heard the saying "buy the rumour, sell the news"
We had a market dip on the RUMOUR of missiles. The NEWS is that they weren't particularly effective and so now the market reversed higher (hence my #BTC buy)
Geopolitical risk has evaporated and we now need to turn to Economics once again with #Inflation numbers and #InterestRate decisions ahead.

This scenario remains the primary count for #BTC
The very modest selloff shows how seriously (or not) the markets perceive any risk from Iran.
It is likely that Iranian military capabilities have been totally degraded by US/Israel and the threat is neutralised.
We are back to evaluating economic risk for the next move imo

Lets see if support holds for #BTC
If not then stop losses on Longs should be triggered.
The attack Iran was unexpected - today at least!

Iran latest:
Israel has carried out an attack, defence minister says, as explosions heard in Tehran
Prompting a sharp selloff in #BTC & #Crypto

We can see how close we are to testing that overhead resistance for #LTC which should turn $LTC lower again BUT we should then see a powerful recovery which will bring a smile to #Litecoin hodlers everywhere
That potential final push down could be painful though

This is my current thinking on #BTC
It is difficult to determine whether it is 5 waves down or 3
Either way (assuming we get the dip lower as shown) then we should get a decent and tradable push higher imo

#Silver and #BTC often move together (Positive Correlation) during:
#USD weakness
#Inflation fears
Loose monetary policy / #QE
Geopolitical stress
Both are sometimes viewed as:
Alternatives to fiat
Inflation hedges
For example:
During parts of 2020–2021 stimulus cycles, both $BTC and #XAG rallied.
They sometimes decouple because:
Liquidity and Volatility are not always matched:
When risk-off hits hard:
Bitcoin often drops like a tech stock
Silver may hold better (or fall less)
In strong risk-on:
Bitcoin often massively outperforms silver