Bitcoin in Final Leg Lower?

١٩ يناير ٢٠١٨

BTCUSD appears to be entering the final leg of its correction that began in December. Price target in the mid-$8,000s. A strong move above $13,000 would invalidate my current outlook and precede higher prices.

As this, in my opinion, should be the final leg down during this correction, I will not be taking any short positions. Opening shorts on the final leg of a correction can end badly if the final leg truncates or if the count is wrong to start with. This is the reason for my neutral investment strategy.

Good luck!

٢٠ يناير ٢٠١٨

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Updated chart / Wave Count:

٢٠ يناير ٢٠١٨

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End of wave 4 condition has been fulfilled. The downtrend is likely to resume shortly.

٢٢ يناير ٢٠١٨

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#Bitcoin continuing to move lower. We are likely now entering into the worst part of the final leg down, Wave 3 of Wave 5 of C. Expect a quick drop from here. This is one analysis that I would prefer being completely wrong about!!!

٢٢ يناير ٢٠١٨

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‪Unfortunately, Bitcoin is continuing right along as expected:

٢٢ يناير ٢٠١٨

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Bitcoin is continuing to drop towards a retest of the lows, as expected. Also, as predicted in the last update, the move to the downside as accelerated into wave 3 of 5 of C.

٢٢ يناير ٢٠١٨

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Will likely get a small bounce here into wave IV of Wave 5 of C before we head lower again and retest or surpass the $9,200 lows.

٢٣ يناير ٢٠١٨

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Update: Wave V of 5 of C incoming, the retest of the $9,200 lows could very well take place over night (US EST).