This upward move can be a bull trap... why?
To form ABC - every leg has to complete 5 waves
So this uptrend should complete 5 upward waves and break the resistance to form a bull wave. The wave before triangle is 1st, triangle is 2nd, this uptrend is 3rd.... lets see whats next.
If it breaks 9160 and closes the candle than we are on a uptrend tide...... but i doubt it :)
May b i'm wrong....
Lets see, things are folding very rapidly now.
cI8DH
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there is a 300 BTC buy order at 8039 on Bitfinex.
JayVirtualWorld
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@hkh222, nice, the data i used is from Kraken, i'll check what orders are in place on kraken.
Thanks for the update pal, appreciate it.
cI8DH
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@Zigh72, I appreciate your ideas as well. keep up the good work ;)
JayVirtualWorld
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@hkh222, Thanks pal, around 40 or 45 BTC @ 8510 - 8495 region (USD)
cI8DH
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@Zigh72, More exactly 300 BTC buy order are at 8645, 8574, 8492, 8200, 8109.2, 8089.2 300, 8069.2, 8039.2. Probably belongs to the same composite group that pumped the price in April.
JayVirtualWorld
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@hkh222, I guess now the bounce target is more clear - 8500 is the one.
To form ABC - every leg has to complete 5 waves
So this uptrend should complete 5 upward waves and break the resistance to form a bull wave. The wave before triangle is 1st, triangle is 2nd, this uptrend is 3rd.... lets see whats next.
If it breaks 9160 and closes the candle than we are on a uptrend tide...... but i doubt it :)
May b i'm wrong....
Lets see, things are folding very rapidly now.