Bitcoin [BTC] - Update 16/05/2018
As I see it, we may go down a little lower than 7.8 but the exact level doesn't really matter. The last wave down needs to complete a certain way, making 7.3 to 7.5 a bit more likely, IF you favour this count. Not saying this is guaranteed, but so far this pattern held up. Not just noticed by me, but workin2005 has posted about it a few times, Heajin has it as his primary count etc. It is also the most bullish count (long term) even if it may seem bearish (short term). I am not day trading, so I played some small movements only. Sold at 9.9 mostly, bought back at 8.2xx, sold at 8.9-ish when I realised we were not doing the ABC but the ABCDE. I have laddered buys set between 7.8 and 7.2. Does that mean we can't go up from here? No, it doesn't. I prefer to complete the retracement to the .786 level (7.220 or so) or slightly above it, because that would give us the best chance to crush, not just break 10K. If we fail to break 10K, I am officially turning bearish.
As always, not advice and I know: TA is nonsense, I am secretly working for Hydra and trying to steal all you bitcoin, I am a government spy who wants to manipulate you and I am actually an General AI trying to conquer the world.
For all the others: hope it helps.
Yes, all of my favorite analysts are 100% in agreement on the 7400 range. I normally only trade mid and long term but this seems like a pretty sure thing and a good way to stack an extra 5 - 10%. Thanks for your nuanced, egoless analyses. I especially appreciate your admitted lack of confidence at times.