Market update.

BTC drop towards $7,700 thoughts?

my lowest volatility implied target is $7900 (Bitfinex pricing). But it's possible that the market will continue down to to the triangle lower trend line

I figure 10k was end of wave 1 and we are in wave 2 now. im thinkin 8200-7800 should be support, but wont be surprised if it goes lower. thanks for the update!

Good Day Srezz,
sry but i'm just not clear on something. Could you explain the $7,769.74 in the first chart. I kind of figured that was your expectation for the leg down after a minor correction (thinking the minor correction was the targets in the second chart). but, umm, yea i don't know. so rather then guessing. I'll just ask. Thank you.

Also, I know nothing about EDO, my google function works so i'll look it up, but whats your interest in it?

Thanks Srezz for the update !

Yes, it could be counted as you say. But I prefer to see the last move down as wave E instead of 2 because of its internal structure and its last very violent leg. Also my count can accommodate going lower than 7800

it's wave "3 "of "c" of "E" ideal target.

I'm not a holder, I trade, and EDO is one of my good speculative instruments.

Thank you.

oh gotcha, yea could be that too. we'll see how it goes!

Thanks Srezz...
Read above you not a Hodler... So... That is because you don't believe in the Crypto...
As an investor do you do it yourself or you associated with someone! I see you from London... Any good investment funds you recommend?

Trading and investing are 2 different activities. Trading is a profession in its own right and as any other profession it requires skills and experience. In both cases, in my view, you need something more solid than simply " believing in Crypto". Also, I'd never give my money to anyone to manage, which makes me a very bad adviser as to whom you may entrust your hard earned cash.

Hey sreez,

Thanks for the analysis. It seems to be following your charts at the moment. If you get a chance could you look at my post (link below) please? Its a few days old, as I haven't had the time to update it. But just wondered if you think a H&S pattern could be forming for ETH. Thanks

https://steemit.com/eth/@ilnomis/ethereum-s-massive-h-and-s-forming-is-the-right-shoulder-forming-now

Imagining things is not the best way to analyze markets in my view. Besides even completed head and shoulders or any other pattern can be considered only together with other tools and techniques. It's never sufficient on it's own.

Thank you for the update, and for including so many of the alts. Great work! I agree with you on this being the preferred route health-wise for the market. How do you expect the market to proceed when “E” is complete? Have a great weekend!

IOTA at last. \o/

Thanks.

Thanks for the update 👍

I’m curious about your higher degree count. Do you label the current ATH as a V (of a cycle), and will the end of this correction be an a, followed by a b and a c (of a cycle)? Not sure if I am right, but I’d like to understand! Thanks.

https://ibb.co/ejb0Dy
https://image.ibb.co/fkLhRJ/BTC.png

Thank you again.
Always keen to see you TA. Also, the expertise you bring to the space.

Hope all is well Srezz, are you still expecting another push down or does this about wrap it up?
Wondering if patience is a virtue right now or if I’m waiting for something to happen which is unlikely.

i think we are in wave Y
https://ibb.co/nQBZvd

Tipping hat 🎩 thing. Thank you.