In connection with the previous violation of the historical maximum and the subsequent correction, a similar scenario for the development of value seems to me.
My only guess given the attraction for cryptocurrencies, is an upward breakout, but who knows if there'll be further retracement so waiting has it's importance although I'm already positioned. Around 0.618 profits have been taken, so I guess we can continue the journey to the moon !
Cheers, and don't forget to hold bitcoins ;)
Short where you want, long where you like to.
Last down move could be coming. Shorts may work out. However, if you've followed my previous chart which had shown all the possible role reversing level ( Resistance into support ) We've just touched the line and going back up again. I've known some traders bought in at the 1000s Level and you might want to hold even...
After seeing so many patterns, charts, own mistakes in the counts, the only thing I really realized is that the whole life of the BTC formed a Cup & Handle pattern, perfect.Seldom seen.
In the middle of consolidation, we now turn to C (corrective wave) and last within the handle.
And this is where almost all traders have the doubt about the time and value that...
Go long on BITSTAMP:BTCUSD | CMP = 902
when ;
LONG : the low of the bar is above the upper channel .
STOP LOSS : high of the bar is below the upper channel.
TARGET : according to follow up price action.
Thanks.
Launch sequence has been initiated and Judgement Day can no longer by avoided (only delayed). With the presence of the media, we've entered the mania attention phase of the "Second Great Bitcoin Bubble".
How high? We don't know. But the next 4-6 weeks of media attention will lead fresh capital onto the previously death filled battlefield. The overwhelming influx...
Hope that this will help decision making. All TAs and FAs welcomed in the comments as always. My previous 5 month old noob EW wave count was aiming for 900 USD region and then changed to 800 USD. CHEERS !
Elliot Wave Analysis is workout out decently.
We saw this leg up a little sooner than I anticipated. I accumulated A and C and was waiting for E before the unexpected jump past 4000 $CNY (602 area). This doesn't complete Wave 1 of Primary Wave 5 yet. If you check the FIB it rejected right at 0.786. I'm assuming we get more sideways movement and then a break-out...
We're finally above the Kumo and finding
resistance at 698.00 (previously tested on
06/25). Kijun-Sen hasn't crossed into
positive territory yet. I'm bullish here but I
ditched my weak hands anticipating the
upset. If we fall, we'll be looking at 661-ish.
Watching things a little closer here. From the initial break into the Kumo at around 640, the rise has looked steady. Even the recent jump from 677 to 689 stayed within the red zone (0.236). We should be looking at 710 within the next couple of days.
![BTCUSD: Descending broadening wedge pattern [4H]](https://s3.tradingview.com/3/3itPsZXJ_mid.png "Descending broadening wedge pattern [4H]")
![BTCUSD: [BTC]](https://s3.tradingview.com/k/kWJ3ZsIp_mid.png "[BTC]")
![BTCUSD: [BTC] Short term](https://s3.tradingview.com/5/5QIddBSi_mid.png "[BTC] Short term")
