5th wave failure cut BTC bullrun short, sent into ABC correction

23 Mac 2018

What I see that has happened to BTC over the past day was a 5th wave failure (other counts don't add up).

SEE this screenshot for a more clear picture:
pbs.twimg.com/media/DY8fimlU8AAdL40.jpg

I know that most TA ignore fundamentals/news, however, this is my view:

I see 5 impulse waves forming as expected, then at exactly the same time of Binance FUD (17hr ago), it fails/breaks down into an ABC correction.

Meaning, large crypto holders dumped heavily on the market once they saw this news, detailing our active bull-run, and causing 5th wave failure.

Algos/Bots also follow suit, and begin trading into an ABC correction pattern.

23 Mac 2018

Nota

Positive improvements so far with #Bitcoin.
It just broke out of it's down-trending channel. Let's see how well it holds above.
(I just woke shortly)

24 Mac 2018

Nota

Bitcoin Approaching Target.

Main target Range: 9100 to 9175
Outer Target Range: 9050 to 9274
(9050 already hit)
ABC correction target: ~8600

24 Mac 2018

Nota

What could give BTC a chance to reach my higher target ranges is the Rule of Alternation, as we see that subwave-2 corrected very little, allowing subwave-4 to have a more complex and heavy correction (and maybe it could be forming a Bull Flag).
Note it already hit my low target.

It's still not a good risk-to-reward ratio, jumping in at the very end (subwave-5 of wave-5). I'll sit this out, just observe, learn and get other stuff done in the mean time.
Already in good profits, thankfully I held through the the recent FUD selloff with no losses.

Also, adjusting for the heavy pull-back of subwave-4, a potential subwave-5 is now more likely to only get to ~9072 (if that much).
Subwave-3 already looks short compared to subwave-1, so not likely to get much distance on 5th.

24 Mac 2018

Nota

Have you safely exited Bitcoin?
As I mentioned some hours ago, any potential 5th subwave would be very weak, and holding/buying into #BTC/Alts at that time would be a poor risk-to-reward ratio.
We did successfully hit the lower-range of my target @ 9050.

26 Mac 2018

Nota

Posted earlier in advance, on Twitter:
twitter.com/AndrewEDavis/status/977722730522071040

The drop target I called several hours ago was successfully met (8525 to 8350).
(It may have been a 5-wave)
I've now analyzed and recounted the BTC chart.
Next short term target: 8750-8850
We could have more downside movement after, potentially to ~7950 range.
#Bitcoin, #BTC

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Update:

Targets met within < 1%
BTC Price rebound stopped just a bit short of my 8750-8850 target (@ 8675, < 1% away), hit the lower boundary box (min-target) I drew.
Followed by a down-trend to my next target @ ~7950 range.
Must observe for the next direction, 2 possible counts. #BTC

26 Mac 2018

Nota

Posted 2 hours ago on Twitter:
twitter.com/AndrewEDavis/status/978326240275914752

BTC We should be nearing completion of this expected last small subwave-5.
I expect some rebound to start soon (1-2 hrs)
8270-8450 seems a reasonable target (maybe ~1 day with this slow movement).
I only count 2 waves down so far... we could be missing a 3rd down after this BTC

26 Mac 2018

Nota

Bitcoin - I mentioned in my last post to expect some reversal/correction soon at this point (we wouldn't get much lower right now).
(Initial volume came in stronger than expected though.)
I hope some of you picked up buys at the bottom like I did.