Finally BTC has shown what the correction will look like. There are two ways to label this, but the result is absolutely 100% the same, so it doesn't matter much. It is either ABCDE or just ABC as a 3-3-5 flat correction.
Here is the updated count:
I told you a month ago that I expect a deep correction to scare off investors. Then I forgot about it for a while, because to me it looked like a complete correction already.
Now the target will likely be 7260$, which is the 78% standard correction target for a wave 2. At this point, there is a very high chance of an amazing rally starting off the bottom.
BTC might rise 1000$ in only 1 hour. That's when you know that the correction is over. That is the point in time that institutional investors have been waiting for months now. The time for FOMO will be soon.
UPDATE 19.05.18: This corrective wave up should be over soon, I think BTC is about to drop hard.
UPDATE 20.05.18: BTC might reach 8600 before dropping.
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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.
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!
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Please we need an update about steem and sbd
done
Nice work, two paths same destination! The big money professionals are gearing up for sure..... this has been a great time to accumulate BTC AND ALTS. THANKS for all your hard work. UPVOTED RESTEEMED
I really hope you are correct. It’s not easy watching the value of investments fall daily. I know you can sell or short but it’s difficult due to tax implications, plus I’ve been burned by selling before and regretted it. Easier to just hold decent investments that you believe will do well.
I would never sell now. Only under 6400 there is a possibility to drop to 1400$, which is why I would sell 40% of everything into fiat if that happens, to buy back much cheaper. But I am convinced it won't happen.
As long as 6400 holds strong, it will be rally time soon.
I hope you don't need to liquidate investments for living. Never invest what you can't afford to lose.
I don’t need to sell to live! I am undecided regarding what toncontinue to hold and whether I can buy back cheaper though!
Thanka for your authentic analysis about bitcoin definitely bitcoin will rise upto 1000 in only one hour & would you like to tell me what will be situation of steemit in few next days please @ew-and-patterns
A triple bottom would be extremely healthy for bitcoin and I think it would give those institutional investors confidence that the market is ready for it's next bull cycle! Cheers to the moon! :)
Nice info.. so changes occur in while. whats your expectation it will be down more or directly up?
So you mean after touching 7260$, can wr espect a rise?
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Thanks For Your Information
Thanks for your information
Your post is very helpful for the steemit to win, success continues and keeps winning.