Sideways Action

- Not much has changed since my last update. - Still hovering around the 0,786 fib area. - Could see some sideways action here for a few days before heading up to the $6,800 area.

Screen Shot 2018-08-12 at 09.52.45.png

Elliott Wave Count:

If we assume that we're looking at an ABC type of correction then we could have finished a 5 sub wave of the A.
If that's the case then sub ABC sequence up to $6,800 is possible before finishing off the final C wave

Screen Shot 2018-08-12 at 10.02.32.png

Benkalashnikov Fund For Charity

I'm raising money through my charity fund. All profits I make with this fund will be shared to the upvoters and to charity. To claim your share and join for free, please upvote this post and sign up at http://www.benkalashnikov.com

Want to support me?

✅Upvote my blog posts on Steemit:
👉https://www.steemit.com/@benkalashnikov

✅Or, use the same web browser I'm using, called Brave (affiliated with BAT coin):
👉https://brave.com/ben180

🔴 Subscribe to my Youtube channel

Want instant buy recommendations?

🔥 Spreadsheet: https://www.benkalashnikov.com 🔥 Twitter: https://www.twitter.com/benkalashnikov

=====

Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.

Replies (1)

Since rejecting the $8,500 region 3 months ago, price has been in a clear downtrend with prices rejecting the major level of$ 6,000 this week. The next week is very important if price is to find support here, if price manages to close below this level we could see it plummet within hours back down as low as $5,000 before falling even lower.

The weekly chart highlights the clear downtrend as well as the rejection price has seen at the $6,000 support zone. The$ 6,000 zone, when previously rejected has seen prices significantly rise again, however i believe we could see prices consolidate around this area for a while before showing investors and traders the next directions in which it will head. The most likely short term scenario for myself is a retest of the $6,000 zone before we see a clear indication of Bitcoins next move.