Well, what a difference a day makes, as the saying goes….
In any case, at the very end of the last column I suggested I was done with the bull trade for now. Like everyone else, I wanted to ride the wave all the way to the top, but the risk of a significant downturn was too great to justify staying long. As it turned out, that was almost the exact high at 1150. Better to be lucky than good, they say.
So, what’s next?
Long term, this is still the place to be. I will demonstrate that investing in Bitcoin is likely to be a huge win in the next few years. $5,000 per coin by 2020 is likely, in my humble opinion.
Having seen this setup up close, let’s zoom out so we can see where the 5th arc pair is found:
In closing, this correction will not likely be over in a matter of hours. It will take days, weeks perhaps. But when it is over, fortunes will be made – hopefully by many people in the audience.
Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.
Image from Shutterstock.
This post was last modified on 07/01/2017 18:35