Bitcoin [BTC] - Update 17/05/2018

Of course TA is nonsense and I am part of an evil conspiracy. All I can say is that I still expect around 7.8 to be the bottom with 7.5 as a secondary count. Doesn't mean it can't go lower or go up sooner but I doubt it. The technical lowest for now SHOULD be 6.450. Anything below that, and I turn into a bear. If we turn above that, I am good. Best retracement seems to be between 7.5 and 7.8. And we will probably need some patience. Maybe the weekend will do it, but I think that will be spend in the last 'flag' before bottom, ending the Wave 2 correction.

I am still out. I won't get back in until I get confirmation that we have entered Wave 3. So I am not looking to buy rock bottom. That would be a bad strategy IMO.

As always, not advice.. GL