# EMERGENCY UPDATE 11.06.18:  Not a triangle - it's an ABC. The break out suggests a drop to 3300$ is going to happen. The low is expected in early August! Next chart update on 14.6. I will not sell any crypto holdings, because I am quite sure the correction will be over in August.
## It is starting to look better. This might be the start of the next impulse wave. BUT:
## Keep in mind that we want to see a decisive break of 10k, before we can assume a stable uptrend.
## This could just be wave e developing right now. If it is wave e, we will see a sharp U-turn in the range of 8800-10000. If you see that kind of reversal be in high alert mode.

## The problem I see is, that even if it is blue wave 1 developing, it could still reverse in the 8800-10000 area and be only blue wave 2.
![DaA2Zdim.png](https://cdn.steemitimages.com/DQmbjUDDZCuqpArHbz3fDDw9cAdhkSpJkUtr27Mrx5xoAtB/DaA2Zdim.png)
![j2eDA7LR.png](https://cdn.steemitimages.com/DQmaNpFRiyd5U9tznS6ZVJ8nqsJiEXQnPiNnz9haEjUy9cP/j2eDA7LR.png)

## If it is blue wave 1 and wave 2, it will likely reverse to the upside again around 8000$.
## We won't know for sure until in a few weeks. Just be aware of the risks. Targets for wave C range from 4500$ -2400$....
## Targets for blue wave 1 and 2 range from 12000$-17000$.


## I am gone for holidays now until 14.06.18. I will not reply to any of your messages before that. Have a great week.

# EMERGENCY UPDATE 11.06.18:  Not a triangle - it's an ABC. The break out suggests a drop to 3300$ is going to happen. The low is expected in early August! Next chart update on 14.6. I will not sell any crypto holdings, because I am quite sure the correction will be over in August.



![image (5).png](https://steemitimages.com/DQmSJFCmiPGGtTrvw93vM77RZsA56t47xh9DbFpbqJxfgoA/image%20(5).png)
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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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