HyperionAllied

BTC/USD Don't cry for me I'm already dead

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Just practicing my correction analysis on bitcoin (which is such a struggle to analyse), anyway i think i came up with a plausible count for a symmetrical triangle in a bear market situation. Sub-wave counts are a bit ambiguous but that is their nature sometimes. Not making any predictions just wanted to get thoughts on my analysis. However if the count is correct we can expect a lower high before what is hopefully the last break to the downside between 7-8k where the magical 0.618 fib lies.
Trade active: Looks like we didn't get to complete the e wave down to 8k we go.
Trade active: Bounced right off that fib depending on your exchange with lovely volume. Watch for a bull trap and wait for confirmation of a reversal.
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