user100000
Long

Truncated 5th wave of ending diagonal

BITSTAMP:BTCUSD   Bitcoin / Dollar
going back to my previous idea. i believe the 5th wave was indeed truncated. i just cant fit any count that makes sense. expanding diagonal doesn't work because wave 3 should be longer. the larger wave 5 of C is truncated also because market didn't go beyond wave 3 (275). i expected atleast 309 which was equal to length of wave 1

this is very bullish . a truncated 5 of C. truncated ending diagonal . market starting new bull cycle i believe
We should take into account also the auction of Silkroad coins on the 4. Dec... that could lead to a little crash as it happen last year, and BTW, that event could be the real catalizer for a new rally to ATH
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user100000 Kilgore
those auctions remind me of central bank selling of gold ever since the brown bottom. it is always a non event and bullish as you say
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I meant C within Wave 4 extending...
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user100000 Unapologetic_Capitalist
wave 4 should have stopped few degrees below the upper black channel line for the pattern to qualify as an ending diagonal. 1-3 and 2-4 must converge
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Maybe Wave 4 is extending with C equaling approx 200% of A.
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Where u see first stop for correction :)?
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user100000 PanScibi
personally, i wouldn't take any chances. market could move rapidly to 600+ without much retracement
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