Bitcoin in Final Leg Lower?

19 Jan 2018

BTCUSD appears to be entering the final leg of its correction that began in December. Price target in the mid-$8,000s. A strong move above $13,000 would invalidate my current outlook and precede higher prices.

As this, in my opinion, should be the final leg down during this correction, I will not be taking any short positions. Opening shorts on the final leg of a correction can end badly if the final leg truncates or if the count is wrong to start with. This is the reason for my neutral investment strategy.

Good luck!

20 Jan 2018

Dagangan aktif

Updated chart / Wave Count:

20 Jan 2018

Dagangan aktif

End of wave 4 condition has been fulfilled. The downtrend is likely to resume shortly.

22 Jan 2018

Dagangan aktif

#Bitcoin continuing to move lower. We are likely now entering into the worst part of the final leg down, Wave 3 of Wave 5 of C. Expect a quick drop from here. This is one analysis that I would prefer being completely wrong about!!!

22 Jan 2018

Dagangan aktif

‪Unfortunately, Bitcoin is continuing right along as expected:

22 Jan 2018

Dagangan aktif

Bitcoin is continuing to drop towards a retest of the lows, as expected. Also, as predicted in the last update, the move to the downside as accelerated into wave 3 of 5 of C.

22 Jan 2018

Dagangan aktif

Will likely get a small bounce here into wave IV of Wave 5 of C before we head lower again and retest or surpass the $9,200 lows.

23 Jan 2018

Dagangan aktif

Update: Wave V of 5 of C incoming, the retest of the $9,200 lows could very well take place over night (US EST).