Quick BTC/STEEM update 06.11.17
I will not posts any counts today, because I have very limited time this evening. The usual update will follow tomorrow.
Wanted to give you a quick update though, because I expect a bigger correction than @haejin does.
My target is between 6000$ and 5000$ for BTC. Is this the liftoff for STEEM? If it happens the way I think it will, it will push the price of STEEM back up in the region of 17000+ satoshi.
When you see a 5-3-5-3-5 instead of a 5-3-5, take this as a wave A..., B follows and C pushes it down further in my target region.
More on that tomorrow.
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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: I provide trading ideas using EW and Pattern analysis. 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 are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
UPDATE: This is the most likely pathway in my opinion:
Will the correction be slow enough to let alt-coins go up because of the profits of BTC getting into alt-coins? IMHO ETH is bound for a bull run more than anything. There is a triangle pattern and 100 Tons of good news about it. ETC went up. ETH is the 2nd largest and also the 2nd most popular crypto. So is there any chance that ETH would move up?
ETH is looking good, but it might take its time until december.
I don't have an idea yet how altcoins are going to react, but it could be the much needed start off push for STEEM.
Are you looking at this drop this side of the HF or straight after?
Right now for a couple of days. Unless it turns up tomorrow, this would mean haejins count is the right one.
So we should find out in the next few days. Excellent. Many thanks
Typo, @haejin 😜
BTW, by when do you expect that correction?
Oops! I think I misspelled that a couple of times... corrected it.
It's a good information, thanks!
interesting. Let's see how this evolves then. What about BCH in your opinion? I can't seem to find a proper pattern for its current trend.
I don't see a pattern either. It is in the middle of this correction. Could become a triangle or ZigZag or Wave A