BTC hit 16000$ and started a correction afterwards.

If you think BTC is going crazy right now, wait for 2018. If you did not notice it yet, I have to tell you that we are in an extended 5th wave. What does that mean?

Have a look at the BTS chart for a good example of an extended 5th:

After an extended 5th you sell, all of it! If not, you will get burned and your profits could even turn into losses.

Extended 5ths tend to have very big corrections afterwards. It was the same thing in BCH when it dropped hard from 2800$. There are many more examples of this. Remember to always sell into an extended 5th. You will likely miss the top, but you won't be shocked by the mother of all DROPS! And that is the most important thing. You can always buy back cheaper after a reasonable correction, if you already have locked in some nice profits.

I would rather lock in a few thousand $ profit than risking to loose it all again, and it could be happening very quickly.

Today BTC dropped nearly 3000$ in 30minutes. Let that sink in for a minute. This is now considered a standard drop. A wave A of a correction...

I am sure though that it will be just a correction this time, but at some point in the future it won't be. A 50% drop will happen at some point.

If you are still with me after all warnings, here is your reward, the updated BTC count:

When I see this chart, sell in may and go away is all I am thinking.

If you think this to be useful information:


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.

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. 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 responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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Have a nice day :-)