BTC evening update 06.03.18
White wave 4 is likely in. I expect another rise in the coming days like this:
We have a special situation though. Wave 1 was longer than wave 3. We know that wave 3 can't ever be the shortest wave, so we know that wave 5 must be shorter than wave 3, if my count is correct. So white wave 5 should not be able to surpass 12270 on the BITSTAMP indication chart.
That is an interesting fact to keep an eye on. BTC is expected to drop hard after white wave 5 is completed.
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nice chart. kinda agree with it.
Also i'm thinking about this scenario could be very likely as well
What do you think?
Very good! This is my alternate count. You have shown really good EW knowledge by posting this, if this chart is drawn by yourself. Thanks for stopping by and your contribution!
Yes I did that chart. I'm an elliotist too. Like your blog because i've been trading EW and TA for about 5 years now.. Check out my blog you might find interesting analysis of different coins like siacoin or neo. Thanks for your upvote
I agree with the analysis although I think it will be softer
Bitcoin Low in search of more strength.
Applying fibonacci to the last cycle of 5 waves and knowing the behavior of the crypts, we can say that possibly bounce between 0.5 and 0.6. This we say that seeing also at the height of 0.5 fibonacci, the price will be with the EMA line of 200, which will also be a good resistance.
A correction A, B, C could reach 10,000 dollars again.
What do you think?
Your count like this is not valid, because of C being lower than (2). If it's a correction of the impulse wave, that is not possible.
It would be possible like this though:
Thanks for your correction. I have corrected the waves according to your indication but I still think that wave C is not so long,
I have corrected the C wave to validate a lateral channel
A correction A, B, C could reach 9.200 dollars again.
Thank you
That looks like something in my mind too, however i believe it may even drop further to near the bottom in Jan/Feb
Agree with you!
my first re bounce level $10k is already overrun and my second is $8100 (Bitrex price) which is your third one $7850 (Coinbase price) so we are matched.
Interesting stuff. I need to cash out some profits but want to wait till next month due to tax year etc. If you are correct it may be worth me moving some profits into tether or similar until I want to cash out to fiat.
It seems like we are going for a large head & shoulders pattern if things go smooth. The minimum target for that seem pretty mouth watering.
Let's hope the predictions are correct. Thanks for the constant update
thank for sharing imformation sir ...👍
thank you for sharing wonderful post.i like your all posts
Thanks for this cryptocurrency news providing...
I appreciate this bitcoin. Keep it up
post was resteemed by @wayforhappiness
post was resteemed by @wayforhappiness
The patterns do not look ideal, unfortunately. I guess that the situation is not stable. Do you have any ideas about the stop-loss in case of instant fall?
No I can't recommend a logical stop-loss here. Wave 2 can correct 99% of wave 1 and still be valid. If it drops under 6000, it is likely that 3 months later BTC will be above 10000 again, so a stop-loss does not make any sense from an elliott wave perspective.
Fingers crossed - one more chance to buy the alt dips after wave 5 is in!