BTC evening update 14.05.18

As you can see, the bearflag is still intact. The bulls were fighting hard to not let it drop lower than 8200$. For now it is mission accomplished for the bulls.

But it could still be part of a bigger correction like this:

In case we see vertical white wave 3 with the subwaves of yellow 1-2-3-4-5, here is the opposing bull count:

I slightly favor this bullcount now... Why? Keep this in mind:

We did not see a second deathcross. If the next 2 days are bullish, we have a "golden cross", which is the opposite of a deathcross.

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
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