Step Back: 2 Charts, Same Target Zone - Part 1

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Part 1: A bullish five wave impulse at cycle degree scale is nearing completion. Completing a five wave cycle marks the top of a supercycle degree wave I.

The target would be a 3 wave cycle degree decline to the previous fourth wave of once lesser degree, the zone of cycle wave IV.

*The pattern in which the decline to next major low is met will determine which big picture count is correct.
**Personally, I am sitting on the sideline and watching. When more of the pattern is developed, it will be appropriate to zoom in again.
It's never gonna go that low.. it looks plausible from a pure TA perspective but I feel like too much money flowed into the market and it's a product/market that progresses around the clock.
Kappy Tom1990
@Tom1990, you say never and then how you feel. I wouldn't invest or trade on your or my own feelings. Also, I've learned from experience not to say "it can't" go that high or low...
@Kappy, It's a speculative market...I think feelings are more important here than in any other market. Nonetheless, I do get your point and thanks for the TA, I just don't really see us going down that much (unless funamentals change).
+1 Reply
Sorry, but NO. Visa accepted BITCOIN - now only UP!)
@konsvat, Bitcoin debit cards have been out for quite awhile now. Nothing new.
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