The invalidation line for a bullish extension scenario was breached, so BTC dropped to the last level of resistance @ 10,000$ as I predicted in my last post:
This was a precision hit again...
Todays price action will likely decide the direction for the rest of this week.
At this point, I just want a new low to get it over with, as one of my commentors posted yesterday. When it's done BTC is very likely to rise to new alltime-highs.
In germany we say "totgesagte leben länger" which translates to "anybody who is believed to be dead, will likely live longer than you think"...
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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.
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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Have a nice day :-)
Seems to be heading closer to $11000 at this moment. It's been a bumpy ride the past few weeks.
Wish I had sold at 19,800 but I don’t trade I just hodl.😩😤
I agree. Let’s get this low in then we can look forward to the change in trend!!
But still the rate of bitcoin is going up, and according to the experts it will be doubled till the end of the current year.
The price of bitcoin is going down and I haven’t seen a single ‘expert’ saying it will double this year. No one can predict the future. Technical analysis use charting to identify probabilities not certainties, so I defy any ‘expert’ to give an accurate prediction of the price 12 months out.
Man darf gespannt sein - Langfristig sehe ich ihn sowieso wieder steigen, drum sehe ich das ganze sehr beruhigt!
Finde das Ganze aber sehr spannend, das Prinzip mit den EW hat mir in MUC am Meetup auch wer zu erklären versucht - Ich war zumindest danach weniger skeptisch als zuvor, sagen wir mal so^^
Andere Sache: Hättest du nicht Lust, in den deutschen Discord-Chat zu kommen? Sind schon an die 350 Mitglieder inkl. der meisten "alten Hasen" :)
LG
Kannst mir ja mal einen Link da lassen ;-). Habe allerdings momentan nicht all zu viel Zeit da ich leider (noch) berufstätig bin. Wenn ich mal Zeit und langeweile habe schaue ich gern mal vorbei.
Gerne: https://discord.gg/3kcG4Tj
Haben auch regelmäßif virtuelle Meetups als Sprachchat, Infos dazu posten immer @jedigeiss und ich auf unseren Blogs ;)
Schönen Abend noch!
I know you analize patterns but this 26 finalizes some contracts on bitcoin and it may go down finally for good to take off like a fucking spaceX rocket to Mars
This could actually be a factor because Futures are new. But I would really hate this if it turns out to be true. Because decisive movements in the future would never occur before the rollover ... That would suck so bad. You have no idea how bad this would be.
Please explain to me just why you think that Bitcoins fall is close to an ending, og why it should rech record-highs thereafter. In my opinion, this fall could be even deeper, it only takes some FUD...and overall. the crypto market is just correcting, and trying to find some support and consolidation, after a big surge last year..
I have explained this in some of my recent posts. The big picture count suggests that this gonna be the last drop. Preferably exactly to the 62% retracement @ 7,500$ or the 78% retrecement @ 4,356$ which would make this a biggest wave 2. And after wave 2 there comes the impulse wave 3 to new highs.
I believe in cryptocurrency. I don't think it will collapse any time soon. Infact i don't think it will ever collapse.This is a great awesome analysis. Thanks to you @ew-and-patterns :)
wow we hope that this is momentaneo that impressive as last year the bitcoin the last quarter of the year went up so much and now go down. I bet this happened quickly in two months this is recovered and exceeds record more purchase and demand crypto lovers.
Thanks for nice information...
Follow n resteem done..
Right on my friend, thanks for the update. It's still Montag here in Oregon. Have a great day man, I'm going to bed.
I really like your posts and I enjoy very much with all your posts.👍
좋은정보 감사합니다.
hey @ew-and-patterns, I really like your posts - I'm learning a bit from them. Would you be willing putting up a few posts to teach us on how to fish and how you learnt EW and patterns etc? Thanks!
Hope it's gonna reach new high soon...fingers crossed!!
The upward move is not going to be easy, the bear flag is still on, since it is still trying to break above the critical support level shown in red at $10600, if it succeeds in doing so next upward target will be $11200@61.8% retrace, and after that the heavy resistance @12800, i will watch closely till then before calling bulls.
if it fails it may find support next at the previous low ($9,005), denoted by the blue dotted trendline on the chart. Just below that, we have the $8800@78.6% retrace, which could also be supportive. A break below the 78.6% retrace, will put the bear flag target @$7600 in BTC's sights.
I agree with you. thank you for sharing such a brilliant article. I am waitting for your next article
Your post is very interesting. I would like to ask how your prediction about bitcoin 2018 is whether it will go up or it will decrease
I agree too, let's hope this purge will finish quickly that we can move on.
I predict it will go under 10 000 dollars. Several european countries are discussing regulations at this moment so market will go down when they announce the new rules.
Thank you for sharing the updates, @ew-and-patterns! Why do you mark $7 500 as a target zone? $8 000 looks like a strong resistance level.
Ja, umso totgesagter umso länger das Leben. Hoffen wir , dass es auch in diesem Fall stimmt.
Always thoughtful and informative!
Grüß Dich @ew-and-patterns sag mal wie bist du denn and die 80K Steem Power gekommen? Falls der jenige der es dir delegated hat noch mehr hat ich wär bereit einen deal einzugehen. Dann könneten wir uns auch besser gegenseitig upvoten.
Alles vom minnowbooster market, 8 verschiedene Verleiher. Ist aber echt verdammt teuer.
Okay danke für die Info. Wenn es so teuer ist rechnet es sich dann und in was zahlt man BTC Steem oder SBD?
Man kann nur in STEEM zahlen und ja es rechnet sich gerade so, allerdings ist das eine Wette auf den STEEM Preis (BTC Preis spielt auch eine Rolle) in einem Monat. Sollte der sich verdoppeln, lohnt sich das richtig und bis dahin steigt der Preis so hoch das es sich dann nicht mehr lohnt noch zu kaufen. Man muss also eine Wette auf die Zukunft eingehen.
Okay na dann hoffe ich das der Preis sich verdoppelt ich denke mal für mich wird sich das nicht lohnen da ich in naher Zukunft kaum noch Zeit für Steemit haben werde. Danke für all die Info und ich wünsche dir einen schönen Tag.
Nyc