matthew.khama
Short

BITCOIN: MINOR WAVE 3 IN PROGRESS

BITSTAMP:BTCUSD   Bitcoin / Dollar
269 0 2
Bitcoin having completed wave (2) at $704 fell to $640 making minor wave 1 (purple colour). Minor wave 2 (purple colour) also appears to be in place at $681. My expectation for a grand fall is still in place. Minor wave 3 (Purple colour) now is targeted at $577 (being a Fibonacci 1.618 times the size of minor wave 1) or $559 (twice wave 1) or $514 (Fibonacci 2.618 times minor wave 1). The halving will appear to have made bitcoin fall in price but remember we are dealing with human psychology which forms Elliott Wave patterns. Thus this prediction is made MINUS any fundamental (news) considerations and comes way before the major issue of bitcoin halving just to show that the market follows Elliott waves and not what most people consider to be fundamentals.

So we look to $577 level, then $559 and then $514 and further below.
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