BTC update 18.02.18

BTC has started what looks like a bigger correction now. This is why I am assuming for now that yellow wave 3 is done already. There are a few other possibilities, but let's keep to this one for now, because the form and fit is really good.

If this turns out to be a normal yellow wave 4 correction, then the target range for yellow wave 4 will be within 10,000$ and 9,400$.

Now that we have a 5-3-5 movement, what we don't want to see is a sharp crash to a new low. This is possible now, but in my opinion not very probable.

We will be able to know what happens, if BTC does a normal correction, or if it starts crashing further at the point where the correction should be finished. Like so:

In the crash scenario, my target zone would range from 5,000$ to 3,000$.

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.
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