BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
279 4 5
It pains me to say this but we could be in for 1 more wave down. First off how will we know if this wave count is wrong? If wave 4 breaches into wave 1 which is around 9230. BTC             can definately hit 9k still as of now. When btc             hits the downward resistance line it will likely be the end of wave 4. If shorting, 9300 seems about right to stop out of short due to what we said about elliot wave theory. The RSI and MACD are both soon to be hitting resistance. On the MACD there looks to be bullish divergence and buying back in when it touches the uptrend line could be a possible plan. Wave 5 could go down to 4500. Supports are 6k, 5k, 4.5k. You can ladder it out how you like but keep in mind to look at RSI , MACD , and volume .
Comment:
snapshot


Could be a good spot to buy in and ride up for a nice scalp before it drops again.
Buy in at .78 fib, $6658
Comment: 9520 buy is stop. not 9300. Wave 4 can go into 1 but only hit the wick.
Comment:
snapshot


This is the bullish wave count. This is possible and I'm not too sure what will happen. I'm back in but am being cautious.
Comment: Above is called the elliot double combo wave
Comment: I'd recommend get in etc and sell before airdrop if not in already. btc im very iffy about
Thank you for the point of view - it indeed kind of looks rather bearish so far, and one can almost feel an important bulltrap forming before it will retest the previous lows



or

Reply
@katyusha,
snapshot


If this elliot wave is correct, wave 3 can't be the shortest. As of now wave 1 is bigger than wave 3. Therefore wave 5 has to be shorter. Doing FIB extensions shows it. Wave 3 is about roughly 85% of wave 1. So wave 5 at most will drop to $3000 if it hits a little after .78 fib exension. .618 fib extension shows $4500. The FIB retracement shows $4500 for .78 too. If it drops, $4500 has to be the very bottom worst case imo. On top of that the Macd histogram looks like bullish divegence too.
Reply
Nice chart :)
Reply
AmazinRaisin LisboaGrande
@LisboaGrande, Thanks
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out