Short

Bitcoin - Searching the low 3.0

Updated

As discussed in the last video analysis, the Bitcoin decided to break out on the bottom and make a slide of about $ 1,500. Those who went short could make good money but the standard hodler should coming in the capitulation phase, which is necessary to reverse the trend. However, the downer make a lower low and was below my determined target by $ 68, so that the counting had to be adjusted according to the rules of Elliott Waves. Count-Changing needs/costs a lot of time, so the release came with delay. After such a slide a countermovement must correct at least 23.6% and this minimum correction has already been achieved. Nevertheless, I expect another high in the direction of the trend channel before lower lows should be formed. If this has taken place, it must be elicited whether this is already the end of 20.12.2017 ongoing correction or if there are further indications of a trend continuation. Greetings from Hanover Stefan Bode
P.S. Questions & suggestions in the comments and agree with and share/like it.

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Red Wave 4 seems to be in there and now BTCUSD should work off the red wave 5.

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BTC must break out of the trend channel and form a higher high to reach the short-term target. So far BTCUSD is still weakening at the trend channel.

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Ist wave 5 of c of B ready? To early, but possible.

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Good Morning. The red (4) could now be finished and now wait for the first impulse of the red (5) in the chart marked as (i). Trading idea (riskier) at BitStamp current: SL $ 3,550 targeting $ 4,150. TradingIdealIdea: After initial startup of (i) the entry is sought. SL would be today's low, target remains the same with $ .4.150 and SL follow suit quickly.

StefanBode

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