As long as BTC doesnt break up through the blue trendline, I'm awaiting further downside towards the blue box to complete the ABC correction.
Right now in a pennant and could break any moment, or do one more leg up. The flat pattern which I showed this morning on Twitter is also still a bit in play but normally the spike down invalidates this pattern. But all other movements fit in a flat pattern. In that case we already made last leg up and as this flat is Trend Continuation Pattern, it should go down.
Fundamentally: more and more rumours about bad news from China....
Be cautious, check your alts and dont become a badholder if this plays out.
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We may get some correction here, before final push to complete the ABC correction
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We saw the break out and made a bullflag. Projection some fibo extensions, which I always use for target determination, I've come to the following possible path for a last push into the blue box around 3500
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Target reached, I'm expecting a bounce in this area
Crypto U are THE MAN!!! Big thank u! Whenever u are in Romania, just let me knw - drinks on me!!! @Crypto_Ed
DSP_STEFAN
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Thank u for your insights! Can u please update on the current situation? Big thank you!
Crypto_Ed
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@sdpteff, no update needed ....it's going like planned
jgree107
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Agree. Your upside hopes on holding Bitcoin is less than 15%, whereas the risk of holding, at the current moment is more than 30%. Stockpile cash and wait for a buy opportunity. There is no point in taking a large risk here.
BigD2017
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Hold your cash! don't get sucked in to buying at these absurd prices, buy TULIPS instead :)
This market is going to get slaughtered over next few weeks. BTC = $2,400; ETH $220; LTC $46-50