BTC morning update 16.05.18

Yesterdays counts are now invalidated by breaching 8285$. That's why I always give an invalidation point when possible. The bearflag pattern was dissolved like in a textbook example.

So here are two new counts:

bxdPSUwR1.png
bxdPSUwR.png

Now, the further price action will depend on whether we will see 3 waves up or 5 waves up next. If we see 3 waves up, the correction cannot be done yet.

I see five waves down, so the current move down should end very soon:

hcYl2Sqm.png

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If you think this to be useful information:
DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif
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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.
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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!
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Have a nice day :-)

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