BTC update 22.08.18

in btc •  4 months ago

This alternate count could be in play now:

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The best thing is, that it doesn't matter now if it is going to be 5 waves down or 3 waves down. With a slight adjustment this count works for 5 waves down as well.

But the target would probably be a bit lower for 5 waves down.

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If you think this to be useful information:
DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif
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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.
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DISCLAIMER: This post / analysis serves general information purposes only. I am not a financial adviser. The material in this post does not constitute any trading advice of any kind. This is just the way I see the charts and what my trading ideas 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!
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I'm really curious to see which scenario will play out. I don't actually mind the bear market, but when things move sideways for a seeming eternity it's definitely a bit depressing! Seems like we've been stuck in the 6000s for ages.

To be honest, I'd rather see us fall to 4200 than continue sidewinding like this, but I'm still patient enough to just keep posting on Steemit and learning more about crypto in general.

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That is the attitude I wish to see in more people! Thanks for the comment.

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Yes we need a sharp fall to 4200 or even 3300 to clear the market of weak hands. This will bring new players and old sellers back into the market and provide a more sustainable and stronger rally.

For now it still looks like this could still be a valid 1-2 i-ii (the bullish count from your previous post). How likely or unlikely do you consider this to be?

6377A146-FD82-4A1B-9BBF-F845AB4C04CF.png

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Yes, this is still possible. But we are approaching 5 waves down (in this count wave a) This would need a really shallow wave c for not invalidating it.

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Of course this way I like most! And it is coming true.

Seems this count could work...as well
Will see what happens

Good content boss carry on

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How many counts are there now?

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I can think of 6 now without really taking a look into it.

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What’s your thoughts on others thinking it needs to hit 4500k to complete the long term correction as far as EW goes?
Obviously I prefer your current count but interested in versions viewpoints 😊🙏

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Look one answer below this. 4500 or even 4200 are my targets for a ZigZag end of wave Z which is still very possible.

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Thank you, if it hit 4500k odd would projections still align for the market to reverse and hit highs again?

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Yes, of course. Higher highs are expected for the future and if you compare it to the past, it is much more likely than BTC going to Zero.

What happened to your count from a few months back showing btc hitting $4200 before the correction ends?

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4200 is still the 100% extension target which is often hit in an ABC ZigZag (A=C). So it is my target for 5 waves down.

yeah..it is possible
voted

Hey EW, is there anyway to contact you directly (not regarding analysis)

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Yes, steemit.chat but it is offline right now.

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Yes, its been redirected to steem.chat - but you will need to change your DM chat from read-only

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thanks for letting me know. No I was not redirected. So I didn't know they changed the domain. Now I can chat again.

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What’s your thoughts on probable pathway currently, just hit 7100.