BTC update 22.06.18
UPDATE: It now looks like WXYX2Z, because the target is lower than 5920:
UPDATE 2: MtGox not selling any BTC anymore^^. News arrive to justify???...
BTC turned bearish which I expected in my last post. The ABC pattern is finished.
Today I want to show you the best case scenario. In the best case scenario, this is the last wave down:
There are a few worse counts than this one, but there is hope for the bulls...
If the drop ends above 5920, it might still be wave 1 and 2 on a bigger scale. If it drops below 5920, the next best alternate would be WXYX2Z.
Let's follow the waves and be patient... stay tuned...
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I hope we will see the direction change soon and BTC price will go up today
I hopr BTC bouncr back well soon. And people will make there intentions on btc investment more
I favour the scenario of upwards momentum in July but with a moderate target around $7,000. I tend to see it as a sell opportunity for another test of the $6,000 zone into August.
I have not smelled fear and capitulation yet.
Last time to hit 6K should be 3 July. Bitcoin should be AT LEAST be 6725 at 1 August and never look back. If it does fall through though, then we can see it fall all the way down to 3K and even 1K.
Yes. I take such scenario into account although below $3,000 seems to be an outlier. The biggest pain point does not seem to have been reached already.
Hopefully, this is the last drop. Otherwise, it is far from the predictions of reaching 30 000 dollars until the end of 2018.
This outlook is much better than your last BTC update in which you indicated a possible low in the area of 3.3K.
What has changed that you are now more optimistic as I haven’t noticed any change in the external environement?
I am not really optimistic about this, but there is a chance. Double bottom @ 6k sounds good and is plausible. I noticed that wave 2 usually retraces very deeply in BTC which raises the probability for this a little...
But somebody already pointed it out in this comment section. Such a huge downtrend usually ends with capitulation (4000-2000$). I am already mentally prepared for this downtrend to last the whole year of 2018. Anything other than that would be a positive surprise.
Great analysis. Thank you for the awesome content.
I also post some good TA daily. Please consider checking it out at my blog @abyzee
Thank you.
You do forex Analysis as well or crypto only?
I do forex very rarely, because I only trade the weekly chart in forex. Shortterm movements seem to be very manipulated.
I think that in this year will be 2000 USD