Cryptor07
Long

Post-triangle symmetrical impulse Elliott wave

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
My previous publications highlighted the fact that the 2018 Retracement was a remake of the 2014 Retracement.

The idea was to have a resultant in 2019 similar to that of 2015, starting from the Ultimate Dip of 01/12/2015.

However, with more than 10 strong and concordant indicators, I had identified that the DIP of 12/15/2018 was in all respects similar to 01/12/2015.

Now, we benefit from more than a month of visibility: so, the post-Dip 2015 is it still comparable with this beginning of the year 2019?

Here is precisely reported on 2019, at identical % (logarithmic technique), the symmetrical triangle of 2015 followed by what I identify as an impulse Elliott wave , departure of Bullrun 2016-2017!

Result? If the correction wave followed by points A and B of the triangle coincide with 2014-2015, this is no longer the case of point C of the 2015 triangle!

So be careful: it isn't a predictive plot but a comparison, which will allow us to judge in "live" if the price of Bitcoin in 2019 is close to the waves of 2015 and so to draw interesting conclusions: validation of the end of the bear market by an isosceles triangle smaller than in 2015, or on the contrary dead cat bounce in progress, see horizontal stabilization without volumes of purchase ...

... my outline in blue ( Elliott waves ) will hopefully see more clearly over the next 6 months on the outcome of the prices.
I will comment of course my deductions regularly below, so don't hesitate to activate the follow-up of my publications!
Trade active: Inside the Symmetrical Triangle that I traced in my last publications, note that we are in a Falling Wedge.

The Falling Wedge, formed by a narrowing channel in the direction of the trend, is typically a reversal pattern indicating a weakness of the trend characterized by a gradual decrease in wave amplitude and transaction volume as you can to see it easily these last days.

Within the Isosceles Triangle, this is quite normal and it is sub-patterns that generate the oscillations of round-trip of this triangle.

However, the break of the support of the Falling Wedge gives a good signal to play the retracement with a target of course at the top of the first wave of the Falling Wedge. It is therefore a rising signal that corroborates my drawing of the main triangle.

You have before you the example of a first Falling Wedge from 11-28-2018 to 12-15-2018 with its resultant bullish from December, 15 to 24.



CAUTION: This is not an investment advice
Do not follow any "prophet", invest only what you are willing to lose
Trade active: $ 4200 target validated (Publication above of February 4th)

On my initial chart: Point "C" referent of 2015 not reached, but we tend to him with the resistance breakout of the small isosceles triangle, which I represented dotted "yellow gold".
Comment: Point "D" in accordance with 2015

In addition, a symmetrical sub-triangle reinforces our large symmetrical triangle:

Comment: 5k achieved confirming the accumulation of bullish patterns:
- large ascending triangle (white dotted line)
- integrating an isosceles triangle (in golden yellow)
- incorporating a small isosceles triangle (in bright yellow)
This cocktail was explosive!

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