BTC update 25.09.17 - proof for all the non believers that EW does indeed work...
Yesterday I wrote about a high chance of seeing another five waves up, after seeing 5 waves up and 3 waves down.
Let's have a look at what happend... exactly, you guessed it. It's a BINGO:
It happened exactly the way that I said it would. This means my count is still right. So expect a move down soon....
This is how I predicted it:
You can watch the post from yesterday again here:
https://steemit.com/bitcoin/@ew-and-patterns/btc-update-24-09-17
If you don't think, that this is proof that it works, I must assume that you are incredibly stubborn and not willing to accept the beauty of it. This is not a coincidence. I have done that hundreds of times.... If you read my entire blog you will find at least 20 examples of incredibly accurate predictions.
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If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. 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 are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
UPDATE: If there is no high above 3956$ again, this would be the chance for the bears to get rollin'... I see a chance for 120$ down over night.
Will be commenting again in the morning.
Morning update: shorts are in profit, SL 3934. I expect an awesome drop today. Good luck everyone.
QUICK UPDATE: The count is still valid. There could be one more high to complete the 5 of 5 at 4000 but it is not required anymore. We will see soon
DROP might have started. I am buying shorts as high as I can get them. Last position was stopped out this morning. SL now 3972$
Morning Update: I don't think this is going to work out. I reduced the short to half. Think it will be stopped out soon. Will have to reevalueate in the evening. The bulls are keeping BTC above the trendline, which is bullish...
Very difficult phase right now. Everything is still looking fine. But if BTC rises over night I will have to reconsider. But for now it looks like small wave one and wave two should lead us down overnight. SL remains 3972. Will only be a small loss if it fails.
The calm before the storm right now. Volume is incredibly LOW
Nice analysis! I truly believe in EW as well!
I have a question, so are you bearish even with MACD at so oversold levels and about to turn up?
MACD is a lagging indicator, which means it can turn up slightly and prices still fall. Then a day later it turns bearish again. Perfect bulltrap. I would not use it as an entry indication. If I am wrong, there will be at least a correction after the those five waves up of today.
Thank you for your comments. A lagging indicator that shows deep oversold levels can say that while price can go a bit lower, it's not time to be selling but rather time to be buying. That combined with EW, entries can be laddered.
Let see which one of you is right hehe
Currently still in consolidation, we should see a move soon.
Haejin but if we see the weekly MACD we are heavily oversold... I am not sure what does that means... Im new to trading
Will udpate the macd weekly tonight.
So it looks like a drop has started, can you estimate where we could go?
Yesterday you were talking about a 120$ drop, still correct?
Drop has not started yet. I will make an update when there is something to talk about.
He says upto 2500
You got my vote and a resteem :]
You have my vote Today I loss 90 USD because of MACD delays
So do you think the top at 5k was a 3rd or a 5th wave?
I think it was 3rd
Yes I agree. The 3rd is usually the biggest pump. So how low would you see the 4th (do you think we already touched the bottom?) and how high the 5th?
I need the waves to point in a direction to make a fib prediction. Right now we are at crossroads. It is beiing decided in the coming days, if there will be new alltime highs (wave 4 done) or new lows.
This post received a 3.13% upvote from @randowhale thanks to @ew-and-patterns! To learn more, check out @randowhale 101 - Everything You Need to Know!
Upvote resteem.
@ew-and-patterns What's your latest?
Your last entry was 6 hours ago.
Thanks.
Nice analysis!
Great, I want to buy cheaper coins soon! :)