Quick BTC update 02.07.18

in btc •  14 days ago

Get ready for the next drop. The expanded flat pattern will likely be done in the next 24 hours (meaning the move up ends with the high of wave C).

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7000$ at max before the drop. I don't think it will be a big drop, but it will lead to a new low.

BTC is channeling and moving very orderly for now. IF true, there are a few waves down to come. Target still 4200$.

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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, 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!
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Don't you kidding me :'(

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How are you always so quick? Do you have some kind of posting alert?

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yes, i do, don't you know about ginabot?

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No I did not know about it. Sounds useful, but I don't need alerts at the moment to be honest.

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yeah, @ginabot is very useful, You can ask me about it anytime you need.

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What BTC value is getting low. Sad news. thanks for share information. very informative news.

I can't wait no more. Bitcoin sales is coming! 🎉🙌😈

Thank you for the update. It seems like every time BTC rises a little most analysts call a bull run or "here it is" in reference to an explosion like lasts years. Is it really a forgone conclusion that BTC will make anothet run like that? Nothing is for sure.

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The run is coming, but the question is when. The last big correction like this lasted over 400 days and we have like 200 days for this correction at the moment.

The waves will hint at possible lows. When you see a big rocket afterwards (a lot bigger than 1000$, you can have some confidence that the corrective wave down is done. There might still be a corrective wave up afterwards, but at least we will see 14000$ again in the short term (which is more than 3x if the low is 4200$)

24 hours seems like too quick a turn around to a down size drop...I don't see it...

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I did not say that we reach the low in 24 hours^^. I meant it as the move up ends in 24h. The move down will take some time and then accelerate.

oh this is very different from everything i read until now.
we will see :-)

Thanks for another good update!
Selling anything at 7k to buy back in or are you holding through this entire thing until it’s clear we are surging?..

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My oldest postions are still in green, but my more recent positions are down 50%. I will HODL everything. Don't see a reason to take the loss. It's an investment. I don't need this money now.

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I am very similar. Planned to hodl, however depending on current situation.
Think its possible we run to 10/11k BTC before 4500 BTC, if so will def sell some of my coins, with the hope to re-enter low. However think its very hard to say atm, if we free fall to 4500-5k will just hodl and buy more Steem/BTS/BTC at the bottom...
Do you have any further thoughts at the moment, or not much has changed yet in your view?

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I think the high of this move up is in @ 6800. The question is now whether the move down is 3 waves or 5 waves. If it stops exactly at 50% retrace (6290) and we see a big green candle afterwards, I will change my mind and go bullish.

I haven’t noticed the drop so wondering whether this projection is still relevant?

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Yes it is still relevant, but I did not think that this move would take so much time. I pointed out that the wave C high can easily hit 6900-7000 and then go down. It might also be some other count like wave A down if the high of wave 1 is in.

I am tracking so many different counts for this move up, it would only confuse everyone to draw them all. I'll do an update when the structure get clearer.

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Many thanks!