BTC update 14.06.18
Quick BTC update 17.06.18: Ichimoku indicator on H4 chart is very close to creating a rare "strong sell signal". It may be only 1 or 2 days away before this signal gets activated.
Hey guys, I am back home, and I am excited. You know I am a longterm oriented HODLER and longterm bullish on most cryptos, BUT:
You better get ready for cryptos to drop 40-50% in the coming weeks. There is still a small chance that it will not crash, but it looks really bad to be honest with you.
Regardless of the count, the last relevant support level is 5920 (February low). If this is breached, I don't have any plausible shortterm bullcount left. But until then there is a small chance for this:
If we don't see this giant bullwick in the next two days, which brings BTC back into the triangle, I think this is what's going to happen:
The second pic of this post suggests (white background) that the correction should be done in early August and that the optimal target for wave C is 3100$, because it would be the exact same length as wave A. (C=A happens quite often)
Are you ready to buy STEEM for 1$ again? Because you might be able to do that soon. I don't think STEEM will drop below 1$, because the demand @ this level is huge. So STEEM might be one of the coins, which does not drop 50% in total from todays levels.
The total marketcap suggests a 50% drop as well...
Also have a look at the volume:
There are NO BUYERS yet!
If this drop happens, my taget zone is going to be 4500$ - 3000$.
Stay tuned... and don't panic.
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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.
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I think we should buy steem at this time.
No, it's not the perfect time! STEEM could develop this corrective pattern:
The forecast is very optimistic. There are no factors that sit down Bitcoin. until the end of the year the maximum is 11K.
LOL. Did you even read my analysis? Probably not. I say it is going to crash at least to 4500 and that there is only a slight chance left that we have already seen the low @6120...
That's crazy talk ;) they've been predicting this for a few months. THEN we can go higher.
is that help steem to be up ?
Welcome back :) Glad to see again :)
How was your holiday?
Following your analysis :)
Thanks, it was great! even though BTC was crashing. But I had not much time to think about that^^.
ahaan you know what, time spend with the family is the best time we can ever have, Glad to know you didn't notice Market, maybe you could get worried ,
I've been buying Steemit between 1.61 and 1.71. So far in the past 6 months, as long as I buy under $2 it's come back to at least 2.5. Also, hoping to make a few more bucks to buy cheap BTC!!!
STEEM will come back to 10$ again in the future. I have no doubt about that. So getting some below 2$ is always a good deal. The lower the better.
Welcome back!
I decided to sell a large chunk of my crypto-portfolio into fiat. Not sure what will happen if everybody starts running to the exit. Will re-enter when this dip has been completed.
I was debating this as well, but I decided to keep and buy more low.
If I would have been @ home, I probably would have sold 50% as well. Now I don't feel comfortable selling this low.
Yes 50% is still a lot. But what if it turns @ 4500? I would be so pissed.
Thanks for the analysis!
Definitely nervous atm, however a little excited as well.
Big moves ahead one one or another, I am holding tight!
If we drop to 3000-4500 odd BTC I am buying as much as possible in this order Steem, EOS, BTS, BTC, ETH & depending on cash reserves maybe some LTC as well..
Do you think if we got that low it will then go to new ATH's??..
Yes to new ATHs! Will buy those coins too, with LTC, BTC and EOS beeing the biggest positions. Good luck.
Good luck to you as well my friend. :)
My faves in order are Steem, BTS, EOS, BTC, ETH, LTC & will buy more.
I have others like XVG, RDD, IOST, DGB, GNT, CVC, DOGE, BCN, ETC, TRX, ADA, XRP.. however less confident in them and prob wont buy more of those at bottom..
I wish you lots of profits!!
How do see things progressing atm?
Bearish pattern developing. ABC complete around 6800-7000. Next drop incoming.
I am debating exiting few positions, maybe neo, some BTC, some alts perhaps however always holding my Steem, Eos, BTS.. Are you exiting at all from anything?
Nope. I hodl everything. I missed getting out around 8k, so now it would hurt too much. Paper losses don't hurt me.
I guess its just being patient if your confident of it reversing trend after hitting 4/5k...Which I feel as you. Do you however feel especially bearish on any particular coins?
No. Most coins I have don't even look that bearish in my opinion. LTC for example looks like it is about to reverse around 75$. It does not make much sense though. We have to wait for decisive price movements.
Well I can't deny it is an amazing opportunity to buy, but I'm a little bit sad because I needed the money for the end of the month and the market doesn't seem to help me.
Welcome back. I hope you enjoyed your holidays.
Now back to reality. Or hell. ;)
I do agree with you we are going down more. I’m waiting for those very low prices. I don’t expect new all time highs this year though.
Right. If it is 3000 in August, new ATHs seem impossible for 2018 at least.