BTC is crashing right now as I am writing this. I knew it already this morning and this is why I am two positions sizes short with 35$ already locked in as profit, stploss at 3835. Had no time to post in the morning...

I will point out the worst case sceanario here, because of the still way too bullish sentiment. I am a little scared for my fellow hodl'ers because this could get very nerve wrecking very fast...

Depending on how you draw the neckline of this SHS , you will get two different minimum targets:

2688$ and 2413$

You might think this is not too bad and an easy buy at this level. Wrong!

Because of this pattern (I don't know what it is called in english) and my elliott wave knowledge I am sure that BTC could crash way more than that. Down to 1000$ is possible in my opinion.

Does this look scary to you? it should:

Depending on how fast a crash occurs (if one occurs, there are still a few other possibilities) it could look like this:

Or even like this:

This is why you should hope for a fast drop instead of a slow one. The longer it takes, the lower BTC might go for creating a panic low. If it happens you will be able to buy STEEM for 50 cents or lower again :D which is awesome. But it could be the death of the bullish steem count....

CRASH targets are 1500$ and 1000$

I will scale up my shorts in every correction and profit from that, but most of you can't profit from BTC going down, because you can't make over the counter deals like me (it is not allowed in many countries). SO be aware of theese crash scenarios because it fits all elliott wave rules perfectly. The upper resistance line was tested two times and could not be broken. This is not a good sign, if you favor a small drop over a crash.

If you think this to be useful information:

DISCLAIMER: I provide trading ideas using EW and Pattern analysis. 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 are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Tell me what you think...

Have a nice day :-)