Wave 5 is extending. The forecasted bottom is ~ 64, ~ 7/5/13
As some on the vitcoin talk forum know, I had forecast for an 86 low in btc recently. When it was hit, I thought that the bear market was over wave 5 had ended. I bought the low with joy.
But shortly thereafter I saw that the market action over the next few hours were 3s, not 5. Which meant the down move was not yet finished. I sold btc again with but a very small profit.
Looking at the wave count, and seeing 5 waves after the obvious wave 4, I now believe that wave 5 is extending. We re now in wave 2, which should end in a few more hours.
Wave 3,4,and 5 should finish by 7/6 at the latest. So the bear market is almost over.
Wave 3 will end ~ 75, and wave 5 will end ~ 64. If 64 breaks, it will go all the way to 48, but I think 64 will hold.
But shortly thereafter I saw that the market action over the next few hours were 3s, not 5. Which meant the down move was not yet finished. I sold btc again with but a very small profit.
Looking at the wave count, and seeing 5 waves after the obvious wave 4, I now believe that wave 5 is extending. We re now in wave 2, which should end in a few more hours.
Wave 3,4,and 5 should finish by 7/6 at the latest. So the bear market is almost over.
Wave 3 will end ~ 75, and wave 5 will end ~ 64. If 64 breaks, it will go all the way to 48, but I think 64 will hold.