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.
Trade closed: target reached:
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.