CastAwayTrader

Bitcoin - one more push down will be a time to buy

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC has been following nicely my counts.
On December 15 th I posted a count where I mentioned it was time to buy because Bitcoin got enough waves to consider the whole decline off the all time high reached in December 2017 completed.
My initial expectations did not change. I expected a-b-c move off the low that will be come wave i of a new rally.
On December 24th I posted another count where I noted that Bitcoin was approaching a meaningful resistance at 4,500. Bitcoin topped at 4,391 and started its decline in wave b down.
Since December I expected quite a deep correction in wave b down.
On January 3rd I posted a chart with a green target box in between 3,575 and 3,305.
Eight days later we have approached the first target. At this point the micro structure of that wave b is almost completed. One more push down to 3,520 would be a great buying opportunity.
As soon as that corrective wave b down finds its bottom I expect another strong rally targeting at least 4,990 . But it can stretch to 5,605 or even higher.

Comments

BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture!
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