looking forward... primary wave 5 / cycle wave III target

BITSTAMP:BTCUSD   Bitcoin / Dollar
3507 17 24
the channel lines tilted few degrees down because of the recent drop so the primary wave 5 target to be conservative also dropped a bit. but could easily spike to 7K or 8K. 5256 is the minimum where wave I=wave III             so once the market climb above 5.2K one should be alert if you are a short term trader and try to hedge your position
Your charts always make me smile. You're one of the few people able to see the bigger picture in a forest full of permabears!
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I'm with you man!
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Nice Work user100000. The larger wave count that you have embraced is interesting. I like it. Nice job on adjusting the count/math for the upcoming 3 wave projection. I like the 7400 level for some reason. All intuition at this point but this count could get us there.
Can you draw your graph for shorter time for example 10-15 days ? I like your graphs although you correct it a lot.
by the way, I enjoy and always respect. I do not know why some people disagree with you and they comment in all your graphs :-)

so eager to see your further predictions
You'll be disappointed..
I like your idea and I wish BTC would go up again but you´ve drawn your channel wrong. Use the lows of 2013-07-07 and 2013-10-02 and the top of 2013-04-09 in a logarythmic chart. You will see that the price broke the channel on 2014-12-16 and is on its way down.
i used elliott wave style channel. channeling only same degree waves. connecting 2-4 and touching 3 give you approx target of the limits of 5........ it's all invalidated anyway as wave 4 moved into wave 1. it's not a standard impulse wave anymore but an expanding diagonal similar to silver
I'm no Elliotician, but that certainly doesn't look like a wave 1 and 2 (I-II).
The rest, not likely in my humble opinion.
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user100000 IvanLabrie
wave II was a crash similar to 1987 stock market crash. it deserves a cycle degree wave. anyway it's no longer a standard impulse wave but a more "crazy" expanding diagonal similar to silver
IvanLabrie PRO user100000
How would you trade this?
Lanmar PRO IvanLabrie
You don't trade this. Potentially a buy at $130 .. I prefer $100.
user100000 IvanLabrie
you buy at any level and wait for 3K
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NickCoulby PRO IvanLabrie
Straight silly looking from an EW standpoint..
Lanmar PRO NickCoulby
Analysis does not conform to elliot wave principles as user1000 describes. Silly is an understatement.
it is an expanding diagonal now. 1 & 4 overlap. target is revised to ~28,000 USD.

1000+ was considered silly when bitcoin was trading in the single digits.
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We nailed it!!
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Im thinking when we get around 300 level well dump like the previous Nov 12 2014 pump and dump, possibly testing the current bottom or hitting around 100-130. Thanks for your wave counting, like to learn from your charts.
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