Bitcoin - The breakout magnitude is growing
It appears to me that the longer this breakout builds the larger the magnitude of the breakout will be. My previous 5 wave count out of this triangle has about doubled in size when I had to recount it this morning. What I have drawn above may be the minimums. Wave 3 up could far exceed the 1.618 Fib before pausing to start Wave 4 making the total move even larger.
Good luck!
Good luck!
Comment:
Not all the way to the bottom line but all the way down to the bottom of the pink wave 1. As long as the bottom of the pink wave 1 is not exceeded to the downside that count is still good.
Comment:
If the do push all the way to the bottom of the triangle (orange line) and bounce off it again then that could be the begining of the navy blue 2 I have on my chart and I would have to adjust everything above it again. Even that would still be bullish.
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There is still a chance they try to bring it all the way down to the bottom of the triangle again and bounce off the orange line again. If not, this may be the current path of things.
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I think we will start heading up from hear or...……. come on down to the bottom of the triangle (orange line) in which case I'd have to redo my counts. I don't want to redo my counts again so let's just go up from here. OK? Thanks!
Comment:
Those Bastards! That had to do one more little dippity-do to blow some more people out. Yes, dipptiy-do is a technical term. They didn't get me as I have no stops. I am the Bitcoin Bear Slayer and I am a HODLER!
Trade closed: target reached
Good luck!