BTC update 09.10.18

Finally BTC is giving us a hint. What do I mean by that? We are seeing a triangle within a triangle in my opinion. Why is that important?

According to EW Theory a triangle within a triangle can ONLY EVER occur in wave E of the bigger triangle.

There are two ways this can be counted, a bullish count and a bearish count:

The problem is, that the bullcount is very very close to its invalidation point... So I am favoring the bearcount. If 6396 is broken, I expect the capitulation phase to begin, meaning 4200-3000 at least...

It also means we are very likely to see sudden big movements in BTC starting this week.

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.

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DISCLAIMER: This post / analysis serves general information purposes only. I am not a financial adviser. The material in this post does not constitute any trading advice of any kind. This is just the way I see the charts and what my trading ideas 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 entirely at your own risk. I am not responsible for any of your losses. By reading this post you acknowledge and agree that you will never hold me liable for any of your losses.

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Have a nice day :-)

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