Unapologetic_Capitalist
Short

BTC Wave 4 (of C of II) Expanding Triangle Over: Price Drop ASAP

BITSTAMP:BTCUSD   Bitcoin / Dollar
The end is nigh! Just kidding. Final price drop in the works before new ATH             .

As per my drawing, looks like Wave 4 (of C of II) expressed itself as an expanding triangle and may have completed its retrace to exactly 50% of Wave 3 (of C of II)

If so, expect price to drop catastrophically to complete Wave 5 (of C of II) to $120-$60 range before we can begin Wave III             to new All Time Highs of $2000+ starting next year.

Footnote: The boxes on the right (outlined in green) are the running wave count which I use to keep track of where we are using "anchor texts" so they never move. There are 6 more wave levels not shown in the running wave count to keep things simple but are visible on shorter time frames.
I like that you propose this count. The problem for me is that Wave 1 and 4 overlap. Additionally, the new high this year broke through major bottoms at the Wave A and 1 lows which invalidates many counts I had...
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Just published what I'm watching out for. Would love to hear your thoughts!

Bitcoin bearish EW count to watch out for before jumping all in
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Your comments are on point. I have updated my chart and it mirrors yours. My wave count looks bearish but my emotions tell me bullish, which really do not contradict each other if you think about it. Prognosis: Bearish still.

Thx for feedback.

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Unapologetic_Capitalist PRO Unapologetic_Capitalist
Totally speculative shorter time frame chart below...



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Nonsensical.
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nice to see the bears are still lurking :D i hope this is right, I need to refuel, wonder what news will drive it down so much? esp with every family in china supposedly buying in to send money overseas. Anyway, new tops with volume and im back in coin, right now im alts and fiat.
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