Reminder 2X - Market Analysis on Sep 10th, 2018

I want to remind that there is no bell ringing at bottoms. There is a lot of evidence we look to:

1. A=C projection levels on the way down

2. 5 Wave completion of C or Y and for micro 5 wave completion of that 5th. 

3. Finally, an impulsive rally. 

We have likely seen the third of 5 of 5 of C's or Y's. But I can neither suggest we don't see extensions downward. Nor, can I suggest that we don't get a large B wave out of this bottom, and see further downside months later with new lows. 

I can only say that this area, and more particularly on the next low is an 'Attractive' place for the long term. I am not going to make many trades calls because the cash is the portfolio is too depleted. I'm might make one or two. I'm going to continue to read out the evidence we see it. I'm getting a few completions, and even fewer impulses at this point. Just remember that last fall, the bottom snuck up on us. Many coins, started earlier and others delayed. But before we knew it, roughly 3-4 months later, the rally was complete. Just weigh all this in YOUR OWN decision making. 

'But there is no bell rung at the bottom'. 

-your friendly neighborhood analyst. 

Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.