Today I will present you the current best case scenario for BTC. If correct, it will bring BTC back to 14000$ in only a few weeks (6-12 weeks is my estimation).
I think this is yellow wave 1, because it fits the picture better than a small wave 3. This abcde triangle fractal also makes sense if it is indeed yellow wave 1:
If correct, I would have to adjust blue wave 1 a few thousand $ higher than shown in the lower picture.
The downtrend is likely done and it could soon look like this:
Let's hope for the best... Stay tuned...
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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.
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.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
Yes, this looks very plausible to me! Actually this is the best news for STEEM since months!
If BTC goes back to 14k the alts will rocket!
Nice shaping to the future of BTC 😎
Let’s hope you are right. We are still up 6x from early last year so even if price remains static we are doing well.
Good post @ew-and-patterns,thanks for sharing this useful post
wow,,i see a bright future of btc
its really great currency
I have invested about $ 5000, I would not care about it up or down and by 2020 I just opened it up.
thats look like it is going to increase in future .that s be very good for steemers but in case of lose it might be sad
Nice info @ew-and-patterns. The smaller triangle pattern will be critical for this analysis to be realised and continue upwards if it can break-out with volume. I have upvoted. Feel free to check out my BTC post too :)
No, this smaller triangle pattern is not a must. It can have any other of the 35 possible correction types and still have the same outcome.
Fair enough, different trading methodologies :)
Right compliment in BTC in high price in 2-6 wek in 14000=1BTc.
First i want to share it as you mention "Feel free to use and share my charts"
And second special thanks for this type of useful information you shared...
very informative thanks alot
Btc to go on moon
I think alts will be very strong also if this plays out. Lets hope, thanks again for your analysis. Still extremely keen for an updated XVG chart if you have time or the inclination :)
My short term view for what it is worth (relative beginner). Based on Tuesday’s partnership announcement it could sky or plummet, if expectations are exceeded, or not met.
Your analysis is very informational. But, Most of the time BTC movements are not properly implemented !!
much obliged for this article !!
With all the respect, these triangles, waves, says nothing.
T.A. alone says nothing.
It's a hard work to present a real scenario based on many other things than T.A. Anyone can play with graphs.
lol. I strongly disagree.
I would loose all my money over time if EW was not working great. I make trades based only on my TA. I don't look at fundamentals. Most of the time I don't even know what the altcoin I am trading is used for...
good move recently. keep the momentum.
again people are posting bullish predictions. Haven't seen that for months.
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