The calm before the storm did not last very long 🤑.

In the morning I showed you already this bearish SHS pattern. It turned out like a textbook example.

The bearish retest occured exactly like I predicted it this morning, just 2 hours before it happened.

And the down moves are likely not done. But I think it is correction time now. Time for altcoins to lick their wounds and gain back some strength before the next BTC drop.

Here is the count update that I promised:

Green wave 3 exceed my target by 550$.

The next big correction is going to be white wave 4 which will likely last a few days.

This is going to be the pattern for next 7-15 days now. Boring consolidation, next wave down, boring consolidation next wave down.

Get used to it. And at some point take a chance, when it presents itself. At least I will...

Will my count be able to predict the low with a high probability? The answer is yes, unless I miss something. I am only human too, you know?

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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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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 :-)

My guts been telling me that BTC is heading lower and i agree with you that it is not over yet thanks for the break-down @ew-and-patterns

bloodbath in the crypto markets. Looking for the bottom to pick some up for cheap

This is great! I've been waiting for this since we started our run back in November of last year. I mean, to go from the mid $3,000 range all the way to $19,000 that fast means a big "correction", "crash"(whatever you want to call it) is coming. Once we got up there in late December, I sold and put some buys in at the $8,000 range, and that's what I've been waiting for. So, I think this is spot on.

Amazingly clarify my some issues. Thanks for sharing your thought with us it very helping post. Most of us don't know about trading up-down that's why this type of post very grateful for someone.

I'm newbi traider... i have many lost in yesterday... !! How to prediction coin buy and sell.

Bitcoin is really surprising in the update world.

Outstanding update news about blockchian technology. Thanks

Thanks sir sharing bitcoin new..Really it is informative and valuable post.for us..

I am happy for some pullback action. I hope the market goes sideways for a couple of months. I really want the crypto-infrastructure to catch up to the coin action. I mean most of the fiat exchanges are backlogged to hell and have been for weeks or months.

I really want to know about stemeet, I wait for your next posting

Thanks for this information, its really amazing

BTC update 16.01.18 - count update