Bottom Zone? - Market Analysis on Aug 13th, 2018

Just so it doesn't seem like I'm not making bottom calls, I'm just trying to give you simple visual guide for where this may happen.

We are in a diagonal so watch the channel. We're getting close but have a bit to go. We can over shoot if this is the white.. A little less likely to over shoot if red. But the channel currently resides about $5200 and personally I'd love an overshoot to $4700. And, then we'll have to see if a corrective rally starts that is contained by the channel. If so, we will likely see another wave down. But we just saw a big stretch in some alts, so this may happen pretty fast. 

I will never say THIS IS THE BOTTOM. The market always has to prove it out. But that's a very buyable zone if you are interested in adding. I'll call some swing trades sine the LT Portfolios are dry, but I won't until I see firm signs of an impulse. 

BTCUSD - More Complex - Aug-13 1933 PM (6 hour)
BTCUSD - More Complex - Aug-13 1933 PM (6 hour)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.