BTC morning update 29.01.18
This is gonna be a short update. The overnight price action shows a new development.
Yellow wave 3 was rather short, shorter than yellow wave 1 even. This means that yellow wave 5 must be shorter than yellow wave 3. It cannot be other than that, because it would violate a major elliott wave rule. Wave 3 can never be the shortest.
If my count is correct, BTC is going to hit close to 13k and then starts dropping hard again.
The wavecross is not a problem in an ending diagonal, which is allowed in wave c.
.png)
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.
.png)
MUST READ!
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.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
I feel something is going to happen
Great analysis like always - I really think that your scenario is right (also in context of @passion-ground longer term view) and you saw that coming very early. That would mean build up cash @ 13'000. To be honest I look forward to the 7'000 ... than we can find a bottom and leave this mess behind us.
same here. I can't wait when this mess is over and it is back to business as usual.
This was very scary for every new investor who bought recently, because BTC supposedly can only go up...
Yeah - on the other side I heared today that a lot of people are getting into the space due to the correction as bitcoin seems to be "cheap". Hope they are not all jumping out with the further decline to come.
But I heard from Swiss bankers that a lot of clients want to diversify into crypto and that they are piling money which waits to get in. So if another dip comes they will get in - if no dip comes and bitcoin gets bullish momentum - they get in. Either way we will see a lot of money coming in soon - I am very positive.
There is definitely a lot of money waiting for a good opportuinity. I don't remember which bank it was that stated the crypto market could reach 10T by 2019... They might be right if BTC hits 66,000$.
I just left a comment reply to @ew-and-patterns letting him know that I posted a reply to his shorter-term questions. Waiting to hear back from him to see if he want's me to share the link to it anywhere.
Though he was already kind enough to re-steem - @ew-and-patterns suggested I also drop a link to the post in this thread. Thank you again, my friend!
https://steemit.com/btc/@passion-ground/btc-futures-or-8-hour-bars-or-from-the-top-or-for-ew-and-patterns-and-friends
Dude.... ur arrow very scary... phew...
Time to start day trading :-D
LTC needs to catch up to BTC... DO you ever do any altcoin EW patterns?
Yes, of course. But it doesn't make much sense now, as most altcoins are going to drop with BTC.
When BTC will come on the top of the rate again. Everyone is waiting for it.
I'm so waiting for the mooning, guys are waiting, people are waiting... BTC to the sun
Even all the way to pluto if you like, even through the milky way. lol
oh :) ok... the wavecrossing scared me :)
I still don't understand why people do this, the crypto market is so volatile and unpredictable you literally never know what's going to happen, this isn't the traditional stock trading, especially that it's so easy for whales to control the market.
Thats why you should look at his prior chart. Or on another take if you truly don't believe in it, why invest time in reading up on it? You must believe some part of it. Its not 100% but crypto follows elliot waves much more often then you might believe.
Cryptomarkets are actually running more precise on elliott waves than any other market out there. No (or very few) trading algos, just fear an greed of people.
Exactly - very little, if at any, manipulation in the cyrpto markets especially when compared to stocks. Volatility doesn't necessarily mean unpredictability.
Also are you available on steemit chat? I have a few questions regarding steemit and delgation
bitcoin is amazing and workable currency in the world.
Much workable yes