EMERGENCY UPDATE 11.06.18: Not a triangle - it's an ABC. The break out suggests a drop to 3300$ is going to happen. The low is expected in early August! Next chart update on 14.6. I will not sell any crypto holdings, because I am quite sure the correction will be over in August.

It is starting to look better. This might be the start of the next impulse wave. BUT:

Keep in mind that we want to see a decisive break of 10k, before we can assume a stable uptrend.

This could just be wave e developing right now. If it is wave e, we will see a sharp U-turn in the range of 8800-10000. If you see that kind of reversal be in high alert mode.

The problem I see is, that even if it is blue wave 1 developing, it could still reverse in the 8800-10000 area and be only blue wave 2.

If it is blue wave 1 and wave 2, it will likely reverse to the upside again around 8000$.

We won't know for sure until in a few weeks. Just be aware of the risks. Targets for wave C range from 4500$ -2400$....

Targets for blue wave 1 and 2 range from 12000$-17000$.

I am gone for holidays now until 14.06.18. I will not reply to any of your messages before that. Have a great week.

EMERGENCY UPDATE 11.06.18: Not a triangle - it's an ABC. The break out suggests a drop to 3300$ is going to happen. The low is expected in early August! Next chart update on 14.6. I will not sell any crypto holdings, because I am quite sure the correction will be over in August.

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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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