BTC morning update 31.01.18
btc·@ew-and-patterns·
0.000 HBDBTC morning update 31.01.18
# BTC is close to my invalidation level for the "no new low is needed" count. It is still possible, because a wave 2 can correct 99.9% of wave 1 and still be valid. # But in case 9,222$ gets breached today, here is my equally bullish alternate.   # My preferred target for the alternate scenario is 7,500$. # Here are some possibly positive effects on the BTC price to keep in mind. Even though I don't believe in fundamentals, theese are some logical consequences, where some other markets are affected in the same way: # 1. New month, new money. Fresh money can enter the market in February. # 2. The futures rollover might have a positive effect. I discussed this issue with some of my followers already. I think this drop until the end of the month could become a regular thing, now that futures have been introduced. Hoping to be wrong about this though, because it would suck hard. ## unrelated Update: We just hit 700,000 STEEM accounts milestone:  .png) If you think this to be useful information:  .png) Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same. .png) MUST READ! DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas. For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions! If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses. Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently... Have a nice day :-)
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