fernandodamian72
Short

BTCUSD : This is a special moment

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
886 2 8
I can not see any impulsive wave in the last month. I see abc structures.
mvhguy
2 years ago
I think this is a very possible count. It is one that I am tracking as well. You may consider that the c of C of B may not yet be complete. Currently that it would be highly irregular correction. If price advances to ~901 then a=c for the current move off the bottom. The current consolidation is signaling a possible small move higher (ascending triangle) which may be a final move as you have highlighted with the bearish divergence in the RSI. If price moves to ~901 then A=C (major A and C) would take prices down <250 and likely hit the trendline.

Bulls are shouting that the break of the down sloping trend line implies the correction is complete. While this may be very true it may also be that major wave B (up) has been in progress and wave C down has yet to commence.

Nice count.
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fernandodamian72 mvhguy
2 years ago
O yes, I agree.. waves C finish when they want. Bur this is not a final count, I think there is something more but I don not see it now. The big correction is too short to be complete. Thanks
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