BTC update 24.09.17
The pattern that has formed looks like 5 waves up and 3 waves down, which means that there is now a high probability of again 5 waves up, before this corrective pattern is completed.
We also have a finishing pattern here, a iSHS (i for inverse) which has been triggered by breaking out of the neckline level
The minimum target for this pattern is 3780$ but I think it will go up more. The perfect target (100% extension) would be 3914$.
If it starts going down again around this level, I will load up some shorts again on monday.
The fact that this pattern took a long time to develop is also an indication for a corrective pattern developing.
.png)
If you think this to be useful information:
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: BTC is getting weaker. Doesn't look like it is going up at all. We will see...
Awesome stuff bro! Keep the good content flowing :)
Thanks bro, love your stuff too. Amazing how fast you got to 2000 followers ;-)
Love this! Very nice post me friend :) Keep the good stuff coming!
Upvoted and Resteeemd.
This post received a 2.62% upvote from @randowhale thanks to @ew-and-patterns! To learn more, check out @randowhale 101 - Everything You Need to Know!
@ew-and-patterns Can we buy around here (3600-700) and sell around 3900 in the next few days?
Do you think the prices can come under 3500?
Thanks
If it plays out like shown in the first picture, it will hit 3880 or more and then go down to at least 3400, it could be a lot more. What I don't want to see now is a strong and fast move up, because this would not fit to the previous moving structure. I would not buy for such a short range between 3700 and 3900
is your count to $2000-$2400 region now invalidated ? once $3880 is hit are you saying the lowest it will now go is likely $3400 region before the expected huge wave V run up ?
I think now bitcoin will go upto 5000$,and then it will come down to 3500$
Volume doesn't back that up. No one is buying but penny bots holding the price there and when buyers do come and buy its not enough. The whales dump it on the pump.
@ew-and-patterns we need your latest thoughts if you please.
Yep. The proof I was looking for.
Price moves in waves, and we will have more up and down waves, so with certainty the price will either go up or down.
You nailed it. LOL
I've been short on BTC since Friday. I really should have waited some time before shorting. Anyway, if you are loading shorts I'm HODLing mine (Because I'm currently shorting BTC with 100% of my portfolio while on leverage.)
I think you will be fine, but I also hope you learned to never use 100% on leverage again ;-)
What is your average price?
Unfortunately $3600 I was in too early. I'm bit of a madman. My first ever trade was putting 100% of my savings on BTC to sell both BTC and BCH for USD on Aug 1st and go all in on BCH (I was a noob. So I sticked with simple limit/market orders). I tripled my savings in 30 hours.
Barely avoiding margin calls. Next time I will certainly stick around 70-80% range.
Mhhhh what about your position still inside?
post was resteemed by @wayforhappiness