The trend started to turn down. Recent drop down to 5400 area is too deep to be a local correction and (after bounce) new lower lows (targets T1, T2 and even lower) expected. Likely, a short opportunities are in the area of fib 0.618 retrace.
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Smaller details of bounce - at first a retrace to 5800 area expected:
Respectfully, too much TA, to little fundamentals. We know what is going on with BCH and what caused this dramatic dip to 5400 area on BTC side.
BTW Futures in December are coming.
Like2Move
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@ALTER.daemon, Fundamentals caused dramatic dip, and they are still there. And still plenty of time by December.
OmidPustcci
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ur charts looks much more accurate than many other analyst. thanks alot for the hard work.
do you think still we might reach 5k? i mean will there be proper correction before breaking 7500? cause by looking at ur chart im not sure we might go lower from 6700 or thats the dip?
Like2Move
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@OmidPustcci, in the initial chart move to 5000 (as T1) expected. After waves iv (dip to 6800...6700) and v will be completed.
JohnBL66
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Your prediction is spot on as usual. You're the most accurate trader I've ever followed and I thank you for your knowledge. May I ask what indicators you use for your analysis besides Fibs and Elliot waves. I'm a beginner trader and want to learn. I follow other traders that use Elliot waves but their prediction just don't fall as accurate so I must assume you use a combination of elements in your trading.
Like2Move
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@JohnBL66, I use tech.analysis toolls, as you see on the ideas and updates charts. (What are these tools?) At first you need to learn about Elliott Waves patterns, second - how EW and retracements corelate. Third - many many many practice to identify main EW patterns on charts in various timeframes. Indicators can be used, but only as an addition to EW and retracements. Learning will take a long time. Patience will be needed. By the way, there are various analytical techniques, I have purified my technique by analyzing, measuring and ... forecasting here. Practice, practice and practice again :)
If I have time, I will answer specific questions right here.
Like2Move
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I hope that the EW 1-2-3-4-5 pattern will be completed soon:
BTW Futures in December are coming.