BTC Technical Analysis + Elliot Wave Count. I hope you heard my last forecast..
SCARILY ACCURATE. Isn't it?
We couldn't break above $7,050 and finally dropped heavily.
I called this drop four days ago when BTC price shot up a few hundred dollars!
If you don't believe me, go check this out --> https://steemit.com/ta/@topcoin/bitcoin-btc-ta-by-topcoin-june-18th-we-are-not-bullish-yet
When I posted that four days ago, I sold about one BTC myself, and I'm already up $200 (in terms of BTC value).
Yes, I'm a margin trader but I invest in BTC for long term as well. Whenever I see signs of BTC possibly falling heavily, I switch my asset to USDT until I can buy it back at a lower price.
I don't mean to brag, I just wish to show the sincerity of my Technical analysis and my blogs.
So.. what now with BTC?
If you look at my charts below, there's not much to explain. It's still the same drawing from four days ago.
I believe we are on Wave 5 of C. Target is anywhere in between $5,100 ~ $6,100.
Yes, bounce is possible at double bottom BUT, it is not likely due to how bearish everything is looking.
RSI is continuously hitting lows without any signs of bullish divergence(high time frames).
If you've shorted after my last blog, start consider taking profits anywhere from today.
The fall has started. 5K is getting close!
*FYI, I am not bearish on BTC in the long run. I personally have BTC investments that I do not touch at all (besides a small some I have to margin trade/swing). I'm only getting excited to see 5K because it is what I forecasted on my blog AND I sold some of my BTC to buy back at a lower rate :)
I noticed all the work you've been putting in and haven't been getting many upvotes. Mine aren't worth much but here's about 15 of them lol
If Bitcoin goes below 5750, it will have to break an 8 year long supporting trend line. That is extremely strong support to break through + a lot of miners will stop mining then because we are now on the edge of profitable mining.