leslieyimsm

Bitcoin: To the moon!?!?!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
If my wave counts are correct, this is how I forecast it will play out.

Yellow line = Currently at Wave 2 based on weekly chart. Hence, it'll just be an ABC correction on the Daily chart .

12345 = Classic 5 impulse wave count on the Daily i.e Wave 1 on the Weekly

I put a lower C placement just because there's a stronger Demand Zone . However, it might turn out to be a flat retracement i.e. C being the same level as A. Given the volatility with Bitcoin , it just might spike down to Demand Zone and rebound up quickly!

After that, we should see new ATH!!!

And that's just Wave 3 on the Weekly...who knows if there'll be extension waves carrying it to higher fib. numbers!

Nonetheless, it's never a straight line. Best to buy and HODL! :)

Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.

If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Comment: Looks like the ABC retracement pattern is playing out.

Let's see if this next wave up will confirm if it is indeed a strong up wave 1