BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
753 20 5
i believe wave 3 has completed with an extended ((v)). wave 3 was only 161.8% of wave 1 so it is considered "normal" size. we may get an exteneded wave 5 (100% of (1~3)) after trading sideways for a bit

macd confirming 3
rivet.popper
2 years ago
So coming off of (v) we'll be going a (down), b (up a bit), and then c (down a bit more than a) to ultimately start a new wave (i) up to 400? Is that more or less what you're seeing?
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rivet.popper rivet.popper
2 years ago
Sorry I meant 400 USD.
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user100000 rivet.popper
2 years ago
yes exactly. after the wave 4 correction im expecting a new impulse wave to 2640 (depending on how far wave 4 retraces). the market usually extends one of the waves in an impulse wave: 1,3, or 5. since waves 1 and 3 haven't been extended. i expect wave 5 to extend 100% of waves 1 to 3
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dont know if so much upwards momentum possible again after such a large dump, maybe 5th wave will fail?
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user100000 Noobincrypt
2 years ago
it is very rare for wave 5 to truncate. unlikely
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IvanLabrie PRO user100000
2 years ago
IF it was a 5th wave...
If it is something else entirely, then anything can happen.

Show me BTC climbing strongly above 302, then strongly above 461usd, and I will consider an upwards move.
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user100000 IvanLabrie
2 years ago
im assuming this is an impulse wave (five waves) because wave 5 of C has completed. so we should get two impulse waves back to back (down to 152 then up to 400+)
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user100000 user100000
2 years ago
whenever wave ((v)) extends such as in this case market never fails to "crash". short term traders can make some good profits if they recognise an extending ((v))
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rivet.popper user100000
2 years ago
Down to 152?? Do you mean 252?
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user100000 rivet.popper
2 years ago
152 bitstamp bottom. end of impulse wave down... now, market is impulsing its way up to 400+
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rivet.popper user100000
2 years ago
Ok, I misunderstood you then. The crash to 152 is in the past. The next wave is up after this dip today to around 260?
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user100000 rivet.popper
2 years ago
i may not have used correct grammer. yes wave 5 is next as soon as wave 4 has completed
+2 Reply
jfun user100000
2 years ago
where should wave 4 end?
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user100000 jfun
2 years ago
wave 4 usually retraces 38.2% to 50% of wave 3
+1 Reply
jfun user100000
2 years ago
So we touched 50% roughly and then started shooting up, is this the beginning of the impulse wave 5?
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user100000 jfun
2 years ago
it's possible. check out the 5 min chart. it certainly looks impulsive (5 waves up). could be beginning as you said of wave 5
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jfun user100000
2 years ago
i guess wave 5 didn't start? we are still in 4 you think?
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user100000 jfun
2 years ago
it doesn't really matter if we are still in 4 or early stages of 5. we should wait for the market to move higher and closer to the upper channel where you can hedge your bitcoins if you like or put off buying more until the market corrects...
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user100000 Noobincrypt
2 years ago
it is not "large" as you say. this is normal 38.2% retracement for wave 4; very typical
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Noobincrypt PRO user100000
2 years ago
correct, i didnt measure it, just a thought from looking at bitcoinwisdom, thx
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