BTC - daily update 2018-07-17

We finally got some good action. As expected over 6,850 we got some good volume entering as smart money was waiting there. We got a stronger spike then expected which took out 3 levels of resistance at once and only got stopped in the target area. But the target level of the inverted H&S is not reached yet. The target is at 7,800. In this case we can label the Elliot wave as shown. We are now working on wave 4 which most likely will target the 0.5 fib zone and support number 2, as shown in the 15 min chart. I still expect wave 5 to complete the H&S at 7,800.

If you are interested in algorithm trend forecast and in deep analysis visit my colleges at
http://www.mariuslandman.com/ and get a premium membership or join our free Telegram group at https://t.me/MariusLandmanPublic

I hope you find this information useful in addition to your own research and analysis! And if you like what you get here please give me a vote up! Thank you!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.