BItcoin (BTC) Headed to Below 5500 in coming weeks

COINBASE:BTCUSD   Bitcoin / Đô la
BTC             is in the C wave of and ABC correction of the larger Crypto Bull market. It has an extremely high probability of dropping below 5500 within the next few weeks.

This analysis is based on a multi market analysis of Coinmarketcap.com, BTC             , ETH, NEO, XLM             , LSK, and more using tricks picked up from 30 years of technical analysis of markets and years of managing tens of millions of dollars as a top ten ranked series3 licensed former Commodity Trading Advisor. I only tell you all of this because there are too many new and inexperienced traders and market analysts giving bad trading advice to other newbies. I want to save you some of the pain I went through over the years. I learned the hard way.

Happy Trading.

Bình luận: I know it has been a while but just updating you that my BTC target is still in play as certain high probability events have not yet occurred in LTC, BTC, or in Coinmarketcap.com. BTC has so far reached a low of 6450 since the target was published and has bounced to its current price of 8174. Right now the daily RSI is at 55, a level not seen since a previous major high area around the March 3rd time frame. There is also Hidden bearish divergence in the Daily RSI, suggesting a high probability of a continuation lower to begin soon. Happy Trading
Nice Chart Mate, thanks for sharing. I recently put together a chart on a log scale with similar target btwn $5000 and $3000, the area of wave 4 of one lessor degree, area highlighted in yellow. I borrowed the idea from @HugoGlatzl and I made some minor adjustment to his count to reflect the more likely completion of minor wave 3 and 4 (labeled in green). And then added the larger wave sequence (labeled in blue) to give it more perspective and broader context. This correction appears to be unfolding as an ABC zig-zag it could morph into an ABC flat correction or even a triangle. To the extent corrective wave (2) blue unfolded in an ABC zig-zag corrective (4) blue is more likely to be a flat or a triangle or both and more in line with Elliott guideline of alternation.

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tuamen tuamen
@tuamen, I forgot to post the link to Hugo's chart:
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Thanks for the contribution. I don't use log charts very often but they seem to be very useful for a long term view of rapid growth markets like cryptos. @tuamen,
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Thanks for the update!

Question, do you have any guess why alts are making 20%+ gains today?
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KazanaWave samiswilf
There are many alts and I have not looked at many of their charts recently but I can say that many of the alts reached their down side targets according to my analysis, and after major percentage drops and reaching their targets, they were do for a move higher. @samiswilf,
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samiswilf KazanaWave
@KazanaWave, thanks for explaining and sharing your your ideas.
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Any update?
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KazanaWave samiswilf
Just did an update above. I think we have rallied to an area where there is a high probability of a reversal back down to occur soon, to continue lower. Thanks. @samiswilf,
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Where are you standing these days @KazanaWave ?
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KazanaWave GustavoBrucestavo
Nothing has changed. Analysis still stands. You wont get the analysis from me that you might be used to, of constantly changing predictions, that oscillate between bullish to bearish, from day to day. If my analysis changes then I close out a target as either a success or a fail.

I am just being patient. @GustavoBrucestavo,
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