Bitcoin BTC - Afternoon Update - Setups, Correction Targets, Long Targets

We correct between $6732 - $7175
Target still stands after this small correct - $8100++
Long Term Bias (6+ months) - Bullish
Medium Term Bias (2-4 Days) - Bullish
Short Term Bias (1-2 days at most) - Bearish
Long Term Target Prediction - $30,000+ by 2019

Elliot Count has been updated and thanks to @ SikretStudio on twitter for providing insight. As traders, we must learn how to accept criticism and feedback. We must throw our ego aside. We must learn to accept responsibility and hold ourselves accountable to grow as traders. My previous EW count is now an alternate and can only be accepted IF and ONLY IF we somehow get a massive extended wave. Therefore I have changed my main count to the below.

On the very big picture, the elliot wave count is to be determined and uncertained. The reason for this is because we don't know if we are in a corrective wave against the trend, or an actual impulse yet. Therefore, we have to assume there are two possibilities. We will confirm this in a few days once the "Wave 3" or Wave C scenario plays out.

1) An ABC corrective pattern against the down trend. IF THIS is the case, we will likely go through another short-term bear trend to possible $5-6K ranges.

Though if the official count is done, Then this is the start of an impulse wave up with 5 waves.

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

Tutorial Series

Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Automatic Stop Sell/Buy Executions
Lesson 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2
Lesson 17 - 6 Hours Live Trade Scalping. Growing $2,000 Account into $3,500

Twitter - https://twitter.com/PhilakoneCrypto
Youtube - https://www.youtube.com/user/philakone1

If I've helped you, consider buying Luna and myself a beer

BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD

The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.