BTC morning update 14.05.18
The bearflag is about to be broken. If BTC drops below 8200, it will likely fall down to 7800 and complete 5 waves of wave A. That means the correction is not over and could take the whole month of may, or even longer.
In an earlier post I already predicted a deep correction to scare off investors. A 50 - 78% correction is quite common for a wave 2 correction.
A bounce off this channel is also possible, but not very likely.
UPDATE: I have cast my SBD rungs (buy ladder) @ 1.75$ ,1.37$ and 1.00$.
.png)
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.
.png)
MUST READ!
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 :-)
#crypto #cryptocurrency #steem #sbd #bitcoin #btc #bch #eos #ethereum #eth #litecoin #ltc #ripple #xrp #stellar #xlm #nano #cardano #ada #vechain #digibyte #dgb #binance #tron #trx #iota #neo #xmr #dash #omg #verge #xvg #bitshares #bts #finance #money #investing
Wow how things have turned! Looking for the trend change!
Good Morning
► ► Your post was resteem by way4pro.com ResteemService to over 21 k followers ◄ ◄
by @wayforhappiness , @awayforahppiness and @bitcoins1 and @upvoting
Keep it up!
All the best!
Send 0.100 SBD/steem For resteem over 7600+ followers @wayforhappiness / send 0.25 SBD/steem resteem over 21k+ Follwers Send your link in memo ! @wayforhappiness Attached !
I am not good with trends and bitcoin terminologies. Can you explain it in a way that a layman can understand
Makin lama makin lemah
I'm not following what u mean... ur previous post u had wave 2 down going to the 8200-7800 range, then wave 3 up. Now ur saying if 8200 is broken, it may be a deeper/longer correction? Please be more specific if you can, it helps. Also what "target" would this new deeper/longer correction be at. Chart? :)
Because now it is about to become is a five wave movement. If it happens there is only one chance out of 34 that it might be a complete correction (WXYX2Z). If it is not WXYX2Z, then it must be a bigger correction. The most common correction is a ZigZag (5-3-5) which would likely take the whole month of May.
I shall then watching it closely then for a possible good entry point.
"If this is correct, the buying zone is in the range of 8,400 - 8,000$." - You wrote that last chart.
Now you write above " If BTC drops below 8200, it will likely fall down to 7800 and complete 5 waves of wave A. That means the correction is not over and could take the whole month of may, or even longer."
So first post you say buy range can be 8-8.4K, then you say if it goes below 8.2K probable longer correction.
I'm sure you can see my confusion. Care to elaborate and help?
I tried to explain it to you. You don't seem to understand. 8-8.4 buy zone was for a complete correction scenario which is still valid. As you can see price bounced @ 8200.
If 8200 is breached the scenario is invalid. It's not that hard to understand.
There is no 100% guarantee, I usually post the most probable scenario at the time of posting. I usuall have 3-4 different scenarios in the back of my mind for when the invalidation point is reached.
This poblim
Pattern u showed in image is bearish. But btc will go up
So you’re seeing after this, then wave 3 wave would begin and back to upward prices?
Yes, when the correction is over (which it could be already, or it might be only wave A).
However, afterwards wave 3 is next.
well lets hope it hodls and corrects if not buy buy buy