Bitcoin - Next target is down at 7,611

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
My preferred count shows that Bitcoin peaked with the test of 11,395 in wave (3) and wave (4) now is developing.

Wave A decline to 9,250 and wave B, which has turned into an expanding flat correction , is expected to peak near 10,905, with an outside chance of making it to 11,227 before tuning lower in wave C. A break below minor support at 10,393 will indicate that wave C is developing.

After an expanded flat correction either in wave 2 or B the following wave likely will be an extended wave and a 161.8% extension of wave A calls for a decline in wave C towards 7,611. This is also close or at the mid-line of the first pitchfork .

Stay tuned for some high volatility swings in the weeks ahead.
you sold your bitcoins for 11400?
EWS cardan6006
@cardan6006, Yes I missed the last part of the rally. The rally is now even more extended and when it peaks the following decline will likely be even faster.
@EWS,can we say that 14k is the end of growth this year or not?
EWS cardan6006
@cardan6006, I see resistance here at 14.180 and again at 14.800, but it will take a break below minor support at 12,835 to indicate a possible top is in place.
baxd analisys
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