user100000
Long

Truncated 5th wave of ending diagonal

BITSTAMP:BTCUSD   Bitcoin / U.S. 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
Reply
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
Reply
I meant C within Wave 4 extending...
Reply
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
Reply
Maybe Wave 4 is extending with C equaling approx 200% of A.
Reply
Where u see first stop for correction :)?
Reply
user100000 PanScibi
personally, i wouldn't take any chances. market could move rapidly to 600+ without much retracement
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out