JimFred
Long

Wave 3 of 5 about to begin

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
186 6 2
I count 5 waves up from the 175 low, followed by an ABC down. So, by my count, wave 3 (of 5) should begin quite soon.

Wave 3's are often rather exhilarating, so, if my count is correct, grab yourself some popcorn and enjoy the show.
JimFred PRO
3 years ago
I am having doubts about my own count. If wave 3 had begun, as I postulated, then the bars should now be making "5s" but they are not. They are still making 3s... So, this leads me to believe that whatever correction this is, it is not over yet...
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JimFred PRO
3 years ago
MY COUNT WAS WRONG. IMO.

I am still bullish, as soon as this correction from 233 is finished, I think she will go much higher. But not today. I now believe my count was wrong, and that the correction did not finish at 176 as i had thought. What looks like a 5 wave count on the 4hr chart, as shown above, does not look so much like a 5 wave move, when viewed on a smaller time frame.

If/when this market breaks, which I suspect will happen fairly soon, she will likely re-visit the lows we saw last week. Good luck all. Happy trading...

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ShortThePlanet JimFred
3 years ago
hm... I thought you published this chart just to troll the people who insulted you earlier... And I see that wasn't trolling. You really think we are still in an uptrend now? I don't think so
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JimFred PRO
3 years ago
Wave 3s are awesome... Hope you are enjoying the show. Remember, it's a double feature...
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JimFred PRO JimFred
3 years ago
I am in awe - this wave was/is far bigger than i anticipated, and i was expecting a good size run...
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JimFred PRO
3 years ago
I was just asked, WHAT IF THE 5 WAVES YOU ARE COUNTING AS A WAVE 3, ARE REALLY JUST WAVE 1 OF 3?" I swallowed hard, and said: "Then the top might be closer to 1,000 then 500..."
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