Bitcoin price overview (waves) 30.05.2019

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello friends!
The rise in prices for bitcoins has clearly slowed down.
We closely monitor the behavior of the price of bitcoins , as well as altcoins.
A possible model of the "wedge" of trend end was canceled, because no confirmations.
We assume that the upward movement occurs in the composition of the large zigzag of wave 4.
As we mentioned before, we expect the beginning of the decline towards 7000 and below soon.
Be careful with long positions!
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Where are you getting the Retrace Percentages for the "Crash Test" scenario from?
I saw the Divergence as well (big as day). This is the first time I have seen it addressed.
I see no reason why this wasn't simply be the start of wave 5 for one last push up. By the rule of parsimony, the simplest valid correction tends to be correct and a typical, completed wave 4 contracting triangle works just fine. The volume isn't great, but we're not in wave 3 anymore. PA is bullish and I don't see much reason for concern. That isn't to say that the move will last much longer before a major correction.
MdF_Trading MdF_Trading
*why this wasn't simply the start of wave 5
@MdF_Trading, Could very well be......but Quantum could also be correct and therefore those who wish to play it safe should probably sit this one out. I imagine there will be a lot of profit taking IF we make that jump to 9200, 9400, 10,000 and it could get violent up there and then roll over into an extended correction phase as would be expected after a parabolic run-up like we have witnessed. Thanks for sharing
+2 Reply
MdF_Trading jeremy.jacques79
@jeremy.jacques79, well, Quantum's count is perfectly valid. I wouldn't be going long here either.
+2 Reply
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