Wave 5 of 5 of C of blue wave 2 can end anywhere between 7,300$ and 5,921$ (BITSTAMP chart). But if there is a new low below 5920$, this count will be invalid and the next likely target is gonna be 4,000$-3,700$.
Here are some obvious BTC bearflag fractals, presented without comment:
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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.
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Thanks @ew-and-patterns, interesting update. I have been quiet on Steemit lately, as I have been putting together a team for a project I am working on on the STEEM blockchain. Glad to see that you are still making these really helpful and informative posts!
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This is the best time to be quiet and gather energy and resources for what is soon to come ;-) The media is going nuts with FUD here in germany right now. Warnings, warnings everywhere. I love it.
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Luckily media doesn't even talk about Bitcoin where I live. I just hope this mess would end soon.
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I agree, it is like that everywhere! My project will hopefully gain a lot of media traction, and I think you would really like it, based on the work you do. Would you be available to talk more about it On Discord?
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I like your projects and you will be doing great if you keep at it. I am on your side and ready to support you when the time has come. We will talk about it in the future. I can see that you have a vision, and so do I.
Right now I am busy with my own projects and business partners. I am in preparation phase as well and I want to be able to make the right moves, once this opportunity arises.
The last BTC correction of this sort lasted 411 days... We might have some time to focus our efforts while this correction goes on, but it might also be over in a few weeks.
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Thanks! My project will be ready in one month for feedback, how does that sound to you?
Good to hear you have a big vision and are preparing Your Own plans, I look forward to seeing them! Thanks for all of the positive feedback and support.
Exactly, either way, I'll continue with my projects and wait for the correction to end!
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your predictions are realy good ew!
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Thanks for the information of my friend, maybe I have read it well and you did very well @ew-and-patterns
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Its gonna go that down? Should I then just short some now?
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Thanks for this cryptocurrency news providing...I like this bitcoin
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Nice post
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I'm afraid Bitcoin will retest the bottom and it could go lower. Volume is really really low which is a sign that bears are in control.
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Hi. I think you have a good predictions. But please make your charts on bitfinex. Because there are more accurate trending lines.
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Price found buyers at $7600 and has been basing the last couple of days. In order for price to move up, we need to see a candle close above $8600 on the daily chart. If price is able to achieve this feat, the buyers must then take out the sellers at $9000.
If the sellers remain in control, we could see price test the $6000 level again, which would be a buying Bitcoin at an extreme discount which was the origin of the huge move that took price to $20000 and where price bounced back to $12000. Thus, this level would be the best level to buy Bitcoin for the long term.
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