BTC/USD - How low can u go? 23/2/18

After discussing the Head & Shoulders forming with a neckline on the $10,300 mark, we saw it form and break down remarkably!

Another Juicy Success!

CURRENTLY, we may be seeing the end of our WAVE ONE as we are bouncing off Fib Support at around $9,500.

IF this is the end of Wave One and we do see a proper bounce, then our next wave upwards for Wave two should land around the $10,000 - $10,200 region. ($10,248 FIB Resistance)

I am still expecting 5 waves down for the completion of our final C Wave.
5-3-5 is generally the case with an ABC formation, so my predicted target still stands at around $9800 - $9,900.

(this is only wave one if we get a juicy bounce to 10k or so)

Seriously however, how low can we go here?

We have always been hearing talk of that one more lower low needed.

So here are my thoughts and views on it .

THESE SUPPORTS ARE CRUCIAL

Although a bounce upwards could occur off any one of them, the DANGERZONE sits around $7,300.

IF This is to break, there is a high chance we may end up seeing that next lower low.. and using Fibonacci ... we are looking at around $2,300.

AGAIN, looking at the bigger picture this does tie in nicely. Finishing off our massive looking Bull Flag.

WHAT I AM DOING

I am out and waiting for a perfect entry point, there is no point rushing anything and i will not be entering until i see a clear uptrend backed by volume.

Support Lines To Watch Carefully:

ONE : $9,582
TWO : $8,800 - $8,900 - My Target backed by H&S & FIB. (but could break)
THREE : $8,227
FOUR : $7,300 - (DANGERZONE) we break and we may see $2300.

Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!