Quick BTC update 17.06.18: Ichimoku indicator on H4 chart is very close to creating a rare "strong sell signal". It may be only 1 or 2 days away before this signal gets activated.
Hey guys, I am back home, and I am excited. You know I am a longterm oriented HODLER and longterm bullish on most cryptos, BUT:
You better get ready for cryptos to drop 40-50% in the coming weeks. There is still a small chance that it will not crash, but it looks really bad to be honest with you.
Regardless of the count, the last relevant support level is 5920 (February low). If this is breached, I don't have any plausible shortterm bullcount left. But until then there is a small chance for this:
If we don't see this giant bullwick in the next two days, which brings BTC back into the triangle, I think this is what's going to happen:
The second pic of this post suggests (white background) that the correction should be done in early August and that the optimal target for wave C is 3100$, because it would be the exact same length as wave A. (C=A happens quite often)
Are you ready to buy STEEM for 1$ again? Because you might be able to do that soon. I don't think STEEM will drop below 1$, because the demand @ this level is huge. So STEEM might be one of the coins, which does not drop 50% in total from todays levels.
The total marketcap suggests a 50% drop as well...
Also have a look at the volume:
There are NO BUYERS yet!
If this drop happens, my taget zone is going to be 4500$ - 3000$.
Stay tuned... and don't panic.
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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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I think we should buy steem at this time.
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No, it's not the perfect time! STEEM could develop this corrective pattern:
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I do think BTC is going to plunge more and possibly repeats corrective pattern of 2014!
)
I made a post today with corrections comparison:
![]
https://steemit.com/cryptocurrency/@andriustovis/bitcoin-update-if-you-think-that-history-doesn-t-repeats-think-again(
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Never mind I found a way to make it work. Yes could be.
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The forecast is very optimistic. There are no factors that sit down Bitcoin. until the end of the year the maximum is 11K.
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LOL. Did you even read my analysis? Probably not. I say it is going to crash at least to 4500 and that there is only a slight chance left that we have already seen the low @6120...
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Now a month has passed and there are no 6120 or 4500, but there is 7.5K.
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That's crazy talk ;) they've been predicting this for a few months. THEN we can go higher.
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is that help steem to be up ?
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I've been buying Steemit between 1.61 and 1.71. So far in the past 6 months, as long as I buy under $2 it's come back to at least 2.5. Also, hoping to make a few more bucks to buy cheap BTC!!!
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STEEM will come back to 10$ again in the future. I have no doubt about that. So getting some below 2$ is always a good deal. The lower the better.
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Welcome back!
I decided to sell a large chunk of my crypto-portfolio into fiat. Not sure what will happen if everybody starts running to the exit. Will re-enter when this dip has been completed.
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I was debating this as well, but I decided to keep and buy more low.
If I would have been @ home, I probably would have sold 50% as well. Now I don't feel comfortable selling this low.
Yes 50% is still a lot. But what if it turns @ 4500? I would be so pissed.
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Thanks for the analysis!
Definitely nervous atm, however a little excited as well.
Big moves ahead one one or another, I am holding tight!
If we drop to 3000-4500 odd BTC I am buying as much as possible in this order Steem, EOS, BTS, BTC, ETH & depending on cash reserves maybe some LTC as well..
Do you think if we got that low it will then go to new ATH's??..
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Yes to new ATHs! Will buy those coins too, with LTC, BTC and EOS beeing the biggest positions. Good luck.
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Good luck to you as well my friend. :)
My faves in order are Steem, BTS, EOS, BTC, ETH, LTC & will buy more.
I have others like XVG, RDD, IOST, DGB, GNT, CVC, DOGE, BCN, ETC, TRX, ADA, XRP.. however less confident in them and prob wont buy more of those at bottom..
I wish you lots of profits!!
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How do see things progressing atm?
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Bearish pattern developing. ABC complete around 6800-7000. Next drop incoming.
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I am debating exiting few positions, maybe neo, some BTC, some alts perhaps however always holding my Steem, Eos, BTS.. Are you exiting at all from anything?
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Nope. I hodl everything. I missed getting out around 8k, so now it would hurt too much. Paper losses don't hurt me.
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I guess its just being patient if your confident of it reversing trend after hitting 4/5k...Which I feel as you. Do you however feel especially bearish on any particular coins?
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No. Most coins I have don't even look that bearish in my opinion. LTC for example looks like it is about to reverse around 75$. It does not make much sense though. We have to wait for decisive price movements.
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Well I can't deny it is an amazing opportunity to buy, but I'm a little bit sad because I needed the money for the end of the month and the market doesn't seem to help me.
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Welcome back. I hope you enjoyed your holidays.
Now back to reality. Or hell. ;)
I do agree with you we are going down more. I’m waiting for those very low prices. I don’t expect new all time highs this year though.
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Right. If it is 3000 in August, new ATHs seem impossible for 2018 at least.
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Not possible to lower than 4k
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Could SBD drop to under one dollar? I know it's supposed to be pegged at one dollar, but since that broke and SBD went way above, could it drop below as well? Just a thought...
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Yes, but not for like more than a week. Two weeks at max.
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welcome back! Seems like it's bouncing a bit. Dead cat bounce?
Next major support seems to be at $5600. How could it go lower than that? People who sold between 15000 and 19900 are gonna get back in very soon in my opinion. Why risk to miss this opportunity? Compared to where it will be in one year, this is already at at bargain...!
Hope you had a nice holiday.
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Yeah I did, thanks^^. Because the the big money is clearly not buying yet. We will see big candles again soon.
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Is current bounce up the one you were referring to?
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It could develop into the bullwick, but for now it is much too weak. It needs to break 7800 in the coming days to have a chance to stop the drop.
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Hi ew-and-patterns.Thank you for giving so much information.
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All cryptocurrency still volatility to much for institutional investor. But we have sure to market up when official market in India and South Asia open will open again . Hope it happens in 2018 year .
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Welcome back :) Glad to see again :)
How was your holiday?
Following your analysis :)
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Thanks, it was great! even though BTC was crashing. But I had not much time to think about that^^.
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ahaan you know what, time spend with the family is the best time we can ever have, Glad to know you didn't notice Market, maybe you could get worried ,
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Very good explanation excellent graphics friend great job well
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Oh my God ! 40-50% downfall.
I wish a better price for cryptos.
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It's nice to see you back again. People are eventually going to get sick of BTC and loose all hope before a real bull run start. By that time (hopefully) the alt-coins would have reached some maturity with many working products. Venezuela is having some pretty impressive adoption rates.
https://www.dashforcenews.com/dash-merchant-adoption-in-venezuela-soars-to-top-spot-passes-us/
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Yeah, that's because in Venezuela the shit already hit the fan. It keeps getting worse. They are starting to seize property already. This is a total nightmare for everyone living in this hell.
Of course mainstream media does not talk about it...
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The majority of investors including prominent trader Peter Brandt predicted an upside break for BTC throughout this week. But, as CCN emphasized on June 6, predictions on the upside are conditional and based on an assumption that the volume of BTC recovers in the short-term. Throughout the past two weeks, the daily trading volume of BTC has remained relatively low, in comparison to early 2018.
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