This is my evening update for BTC.

As you can see, white wave 3 was not even done this morning. The low was @ 9,200$ and now I do expect a sharp correction tomorrow and friday, forming white wave 4. After that one final low is needed to complete this pattern.

This one chart says it all ;-)

My buy zone is narrowed down to 8,000$-6,000$. This is a strong support zone with the 0.618% retracement being located @ 7,500$.

I expect the final low to be found within this range. I will start buying altcoins once white wave 4 is done and BTC enters this range.

Here is the bigger picture of this wave C once again, pointing to a low on 22nd of January.

White wave 3 was not done this morning:

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: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. 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 (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.

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