The count update will follow in the evening (UTC+2). But here is a bearish SHS pattern in BTC for now.
The neckline is already broken and I am hoping for a bearish retest of the neckline.
The minimum target for this pattern is 11500$.
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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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Yikes! I hate watching everything crash although I know it is nessessary before we can start a new uptrend. We all knew it was coming eventually.
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Here we go. Change in trend. If anything like previous crashes/ corrections we will stagnate at low values tillnoone is interested in bitcoin Before recovering and going into much higher highs! But it takes a while and is not easy to go through!!
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nice information
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Thank you for the "correction' =-)
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will wait further for purchases
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Very good post my friend.
Thanks for sharing
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Thanks sir discuss about the cyptocurranec ..I always read your blog.waiting your next post.
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I think you are going to be right.. It really is interested to see so many different predictions based on different models.. How much more downside do you think there will be if $11,500 gets breached? What point are you getting short?
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My target zone for a sharp reversal is 10000$-7000$ BTC, which I already posted about a month ago.
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Spirit
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Thank you! I don't know how I hadn't found you on Steemit before! Time to go and read some of your prior posts!
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visit my brother's account @sevinwilson
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I like your post
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good information dear
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yeah you are right I guess but the Walmart guys got bonus lets see how btc gonna move if fund starts flowing in we might see it above 14k$.
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Thanks! Is it lower lows, higher highs? or more of lows coming on the following days?
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Very nic post
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Upvoted and resteemed.
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Hopefully we go up in the longterm.
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Looks like everything is going down. I guess we have all seen this coming for some time, storm is approaching...
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The decline of bitcoin is still a good buying opportunity. Only minus is the fact that with the fall of bitcoin and other crypto. it's a little disturbing to see that.
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hit my target 11200 today, next is 7500 https://steemit.com/bitcoin/@superblocks/bitcoin-btcusd-to-usd7500-usd11200-today-16th-jan-2018
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Damn I was the last 2 days not home and today after coming home I saw the crypto market is full in red "it's time to buy" ;)))
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Can you explain this a little bit more detailed plz? The only thing I get is it will drop further to 7000-10k ... but why?
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Because without the completion of this pattern, there will be not enough buyers.
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I am waiting for your sbd update .
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Could be either or. I know alot of people go by hourly charts. Sometimes daily chart really gives a great picture. On daily chart this is still a triangle correction, during long corrections the daily charts do give much better picture. It makes a perfect triangle and it can actually go either way. So far its within that and its on D, ABC are done. As much as everyone says its gonna go down the sucker has gotten strong bounces from 12k every time.
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