BINGO! BTC seems to be on its way to the final panic low now. Two days ago I expected yellow wave 4 to have started, which could be completed now.
You can read about it again here if you want:
https://steemit.com/btc/@ew-and-patterns/btc-update-02-02-18
A rise to 10,200$ before yellow wave 4 is completed is also another possibility to consider. Either way, the destination is likely the same:
If you see a new low below 7,640$, then yellow wave 4 is done and the next drop follows.
I lowered my target zone a little to achieve a better form and fit of this correction:
My target zone is now 7,500$-5,500$ while the most likely target is 5,800$ in my opinion. I hope to see a BIG bullish wick at the end of this correction.
Let the panic selling begin. Imagine you bought @ 19,000$ and sold 5,800$ only to see a sharp rise in value right afterwards...
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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.
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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 :-)
Since I would never buy BTC for any other purpose than purchasing altcoins with it, I generally don´t care for its price. Although as long as the sentiments of this old sucker are still important for the altcoins, I do hope your projection becomes true - it seems very likely and in 1-2 weeks everything will look much brighter again on the markets.
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Interesting to see how far this yellow line goes down. Some time in the 2nd quarter a huge rise will begin when Wall Street arrives.
Made a tiny purchase last night less the $100.00 trying to accumulate a little more before the upside, since we do not know the true bottom. Warning to anybody else spend what you can afford to lose.
Man a few copy & paste spammers below your post need to be flagged. Thanks for the share.
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That would feel terrible! If only these people had known that hodling is going to pay off :P
Anyway, thanks for the update once again ;) I'm looking forward to seeing the low, so that we can get green again :D
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Still heading into the storm I think. At least we are seeing waves now, not just a constant stream of red. Heck if BTC drops below 7,000 I might even consider buying some again, and I’ve been a bit anti btc for the past while haha.
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Man muss sich mal vorstellen wieviel summen da hin und her geschoben werden, dass der Kurs auch so massive Wellen hat. Schon verrückt. Bin gespannt wie es weiter geht. In Mienen äugen weiter hoch mit immer wieder kehrenden Tälern...
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I feel like the drop to 5,5K is very plausible. One of the key supports is there. We might be stuck in a bearish market for a while though.
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I totally agree with you :).
Please check my post and give me your opininon on my count!
https://steemit.com/bitcoin/@dbrdbr/btc-may-not-be-done-correcting
This is not advertasing. i only wish to learn and i will delete it if you wish.
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Check out this below project. Follow and upvote for the project. https://steemit.com/steemit/@sreeram661/upvote-funding-crypto-mining-company-improved-plan
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a very good btc update on 04.02.18 @ew-and-patterns
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see the movement of BTC does not break the spirit of the steemians to continue to work in order to produce good posts. thanks for posting very useful. send regards for success.
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Now bitcoin rank is down..i hope thats rank will be up.. No deasester.. Thanks for your post.
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I'm preparing funds to buy more if this happens...
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Check out this below project. Follow and upvote for the project. https://steemit.com/steemit/@sreeram661/upvote-funding-crypto-mining-company-improved-plan
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I don't think it's going to fall to $5,800, but if it's really down to $5,800 it's going to be a disaster.
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No disaster, either hodl or buy more at that time, because correction
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Panic
😐
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There will be a regulatory meeting for the US on cryptos likely giving the greenlight for institutional investing. This could be bullish for cryptos.
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Nicely done. Insightful I'm actually following you up
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Interesting, but everything can happen with BTC value. I have bought my bitcoin when it cost about 14k$... and now I'm still waiting for better time :) Regards for every patient investors.
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I got 3 bitcoins each 14677 and will hold them as long as i need to.Will add more if price go down.
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Is that the $18000 dollar mark?? Can't wait to see this come to reality when prices went down to the all time low in recent times.
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i agree with you, bitcoin is gonna get its bullish momentum after major correction.
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If people would take a deep breath and hold on to their investment for the long term, prices would stabilize. It's the panicked selling when someone sneezes that causes the drops. As with all things, show some confidence in what you've got.
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This is not TA but more FA view. I find it interesting that new correction targets are nearing $5000 which is the current approximate mining equilibrium price of btc per this article below. Read it, quite an interesting perspective imo. https://www.marketwatch.com/story/blame-bitcoins-crash-on-these-sharp-new-players-2018-01-29
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Not selling anything, been buying some alts at discount..
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Those numbers definitely aren't a coincidence! When I saw $666 on the 33rd day all I could envision was the Elite sitting in a lodge contemplating the next wave of control. There's something heavy brewing within the chambers of the powers that be in my opinion and seemingly some weird price manipulation going on with the stock market whales. Nonetheless the crypto community took a massive blow for sure, hopefully it will recover soon. My predictions are mid March top of April before we see some nice all time highs again.
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