BTC update 31.10.17 - count update

in #bitcoin4 years ago

My last BTC update was on 13.10.17 when I was

"not expecting a big drop anytime soon..."

You can read about it here again, if you want:

The bullish count from 2 weeks ago just turned even more bullish:


Today BTC headlines are full of articles concerning "CME group about to launch BTC futures soon"

Well, Elliott Wave rules state that an event shall arrive to justify the forecast. So people think BTC is mooning because of news... I don't believe in news.

Right now it looks like BTC $10000 could be reached, before the next big drop in price. An intermediate-term target is expected to form in the range of $7000-$7500.

image (5).png
If you think this to be useful information:
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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.
image (5).png
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 :-)


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I admire traders who have mastered EWT or at least are doing well applying it.

This is excellent news @ew-and-patterns.

Tell me, how does this coincide timewise with STEEM. I know EW isnt known for time forecasting but do you see STEEM reversing before the run in BTC is over?

I think the inverse correlation that we see right now will break, once the pattern is finished. I don't know what news will be used to explain the sudden rush into steem, but i am sure that many will still be surprised. After pattern completion STEEM should be able to rise, even if BTC rises at the same time.

Excellent. I am hoping for a shot to load up on some steem at a lower level yet like the idea of both BTC and STEEM heading up simultaneously.

As for the news, who knows...they make something up to sustain their belief that the news moves the markets.

Hey tomorrow starts SteemFest! Some new announcements could be said there. Maybe plans for 2018?
Smart Media Tokens usage should give some power also.

The timing does not fit the count :D

Good to know!

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I would not aim so high yet, but yes i think BTC will go up and up without a crash in the near future.

This matches my analysis from yesterday, so I agree with your prediction. It is looking pretty good for Bitcoin right now!
Thanks for sharing!

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