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BTC morning update 14.05.18

BTC morning update 14.05.18

ew-and-patterns(71)

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The bearflag is about to be broken. If BTC drops below 8200, it will likely fall down to 7800 and complete 5 waves of wave A. That means the correction is not over and could take the whole month of may, or even longer.

In an earlier post I already predicted a deep correction to scare off investors. A 50 - 78% correction is quite common for a wave 2 correction.

A bounce off this channel is also possible, but not very likely.

UPDATE: I have cast my SBD rungs (buy ladder) @ 1.75$ ,1.37$ and 1.00$.

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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!
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