BTCUSD 240 min. Update. The downtrend might not be finalized yet

16 Nis 2018

This is an update of my BTCUSD Idea which I posted 14 of March 2018. I expected to see a bit sharper down movement similar to what happened with ETHUSD but the market always has its own reasons. In any case, I would keep this updated scenario as the main one with an expectation to see a new low.

P.S.
Please do not be confused. This is not pure Elliott Wave Analysis. This analysis is based on my fork of Elliot theory. The simplified concept of this fork is published here: plus.google.com/102703249206977009572/posts/Sc1MCdZiWNR

25 Haz 2018

İşlem kapandı: hedefe ulaştı

It took much longer then I expected, but finally, BTCUSD showed new low. At the moment, technically, the downtrend is about to over, but, as you know, the fifth wave could expand unpredictably. I would not recommend opening longs before market forms initial waves of the uptrend. I do not believe that fundamentals for cryptocurrencies are strong, therefore I would recommend taking any longs with double care.