BITCOIN: Count invalidated, Bear Flag instead...
Bad luck guys, Yesterday's count has been invalidated since the supposed wave (4) went lower than the (1)... That's really a bad signal indeed...
BITCOIN hasn't been able to cross the upper trendline in grey in the pic below. Instead, BITCOIN has been "playing" between two inclined limits, forming what sadly seems a BEAR Flag...
Actually, I see two possible options, unfortunately both of them indicating downside movement.
- Uptrend Resistance acting as so...
- Uptrend Resistance broken but BEAR Flag triggered downwards...
Both options represents a (III) extended wave (in red) and the final A-B-C movement I was expecting one week ago...
(V) may not be so long if the (III) has been very extended, that's why I keep a "landing" level just below 3000 USD...
Will see.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Published by Too Fast Eddie
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