OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
81 17 1
Just my take on today's action...as I see it we have just left the wave 4 wedge into wave 5.
Targeting 1550s...possibly 1560s for this wave.

That will complete wave i of the larger 5 (v) waves targeting 1616 - 1680 range again.

Solid red line is the 'sell off' level from the other day...700, 800 btc chunks were being sold off at 1575 level so I expect resistance here...definitely will be setting any sell orders below this level in anticipation of it
rubenthin PRO
2 years ago
* this will complete wave iii of the larger wave
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rubenthin PRO
2 years ago
**actually, cannot see 1560s for this wave 5 as that would make wave 3 the shortest...so expecting this wave to end in 1550s but possibly as low as high 1540s
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Nathanael rubenthin
2 years ago
I was going to say the same thing, wave 1 is longer then 3, therefore if your count is correct, then wave 5 will be small.
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Nathanael Nathanael
2 years ago
Also , your wave 4 goes below the top of wave 2, so I doubt this is an impulsive move up
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rubenthin PRO Nathanael
2 years ago
Ah, maybe because I used the spikes?
I think it is pretty impulsive though...3 waves seem to have played out
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rubenthin PRO Nathanael
2 years ago
Are you still targeting 1565?
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Nathanael rubenthin
2 years ago
for now, I think we are on a B wave. I doubt C will end up = the length of A, but I'm expecting more down soon. Right now we have retraced a perfect 38% of "A" - lets see what happens here
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rubenthin PRO Nathanael
2 years ago
wow..I thought we were done retracing :-/ I was about to suggest buying back 1515-1520. Isn't 1400 lower even than a 76.4% retrace?
I thought we were on a final wave up to the top again, hence why such impulsive action today?
I thought 1480 was the low of the retrace..point C.
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Nathanael rubenthin
2 years ago
You could be right, or your whole count (the retrace) could just be an A itself.... the only reason I feel like we are not going back up yet is these last few waves (where I made a triangle) don't look/feel very impulsive. However, bulls are hungry, and we could continue going up. Just feel like we are not ready on the daily
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rubenthin PRO Nathanael
2 years ago
You're very right...there have been a LOT of overlapping waves over the weekend...when things took off today though, I figured the overlapping was just the poor weekend volume...today's waves (except for my overlapping drawing) look impulsive, no?
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rubenthin PRO Nathanael
2 years ago
just another perspective, my 60min/240m chart, showing what I thought...both 60 and 240 stoch rsi are topping...which could mean it rockets up :-/ OR dips a little for the retrace to 1515/1520 for the next wave up.
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rubenthin PRO Nathanael
2 years ago
like this?
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rubenthin PRO Nathanael
2 years ago
Seems to have double topped too
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rubenthin PRO Nathanael
2 years ago
Shit. It's creeping up. But on the basis of 'plan the trade and trade the plan', I'm looking for this entry. Like we said, 5 cannot be very long, so it should be done soon :-/
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rubenthin PRO Nathanael
2 years ago
Hi Ronald, yep, and way shorter than I'd expected/hoped...I think it's done at 1547. I just sold.
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rubenthin PRO
2 years ago
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rubenthin PRO
2 years ago
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