Yes, the low could be in already. In fact yesterdays target 6,000$ was hit perfectly and BTC started turning.
But on the 2 hours chart and above, it looks like another low is needed to complete the pattern.
In fact a lot of people are waiting for this turn. This is why I favor another fake breakout in yellow wave 4, before a real turn happens.
For maximum pain, BTC could enter the triangle again, but bounce off the upper resistance line like this, right before dropping to the final low at the next support level which is expected to be 4,800$.
You can call me genius now. I still don't get how anybody can doubt that this is legit, because I have been showing some incredibly accurate shortterm price pathways like this one... precision hit once again. Of course it does not always work out as good as this example, but a few gold nuggets are enough to buy a house.
I gave you two price pathways, that did not differ much from each other, and the first one which I favored happened like I predicted. For me, this alone is confirmation enough that my count is right so far.
Here is another one for your enjoyment:
And another one:
And another one:
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.
MUST READ!
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.
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