yope
Long

The big HODL chart of bitcoin

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Doing a big recap of $BTC history helps explaining where we are and puts some perspective to where we are heading. See comments in the chart.
Mar 31
Comment: Actually the last Primary 3, 4 and 5 in the run-up got a bit garbled (hard to see), sorry. The correct price points are $11425 for wave 3, $8847 for wave 4 and $17161 for wave 5 that coincides with Cycle wave III.
Mar 31
Comment: Zooming in on the daily:

Comments

Been digging through your count. Don't see anything major wrong. It qualifies in every aspect on size of retracement. The only thing I found that was an issue was the time span. Wave1 - 720 days, Wave 3 - 337 days, Wave 4 currently 106 days but wave 2 only 8 days. This was the only guideline I could find on time of wave 2. Wave 2 usually takes a small amount of time compared to Wave 1. However, Wave 2 usually takes more than 10% of the time taken by Wave 1. Taking that into account your wave 2 is only 1.1% of wave 1, which would make it very rare but still possible. That is probably why I never saw it, it's hiding in there.

The interesting thing to me about your count is that it is most likely to happen in the way you have it laid out. That move we saw today was not impulsive and definitely an ABC off that low at 6450. Which means we're looking for 5 more waves down. A long position could be taken from the 4900 area considering if we see a corrective wave structure form, like my count is indicating, it would most likely have to form an XZ wave down at this point as my count down from 11,640 is WX and currently half way through Y. And a long position could be exited with profit if that were to occur.



made me interested so I looked and don't you know .382 retrace of the A wave in the Y would give a 1:1 projection of your target. Thanks for the insight the picture is starting to look a little clearer. One of us has the right count and it will be easy to qualify based on what we see over the next couple weeks. I'm hoping your right and this market pushes up toward that 27000 after this Y completes. That would make for a great year.
+1 Reply
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