YoungMula
Short

Which Way Do We Go George?

BITSTAMP:BTCUSD   Bitcoin / Dollar
119 3 2
Waiting game but I say this goes lower...
Comment: triangle broke higher = target 260
Comment: $260 target hit, now I expect a retrace back to $240-245 zone given the strong engulfing candle at the resistance trendline
We are currently in a supercycle that is trending downward. We are in wave 4 so the correction is trending upward. When wave 4 ends, we are going to as low as 150ish which is where the previous wave (impulse) ended. However, there is an inner wave cycle we are also currently on, that cycle's' impulse waves are trending upward. We are currently in wave 4 of that cycle, so we are heading down for a short bit. But will bounce back up, but not higher than 240ish. Then we should around that time (in a few days, a week or so) head into wave 5 of our supercycle, which could be heading as low as 150ish, this wave should be shorter than the wave 3 which took 3 weeks to complete... so maybe one or two weeks of down before heading back up. :)
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snapshot


These lines are just hand drawn and just a rough guideline but generally this is what we should see.
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YoungMula techsavant777
I agree, I see this going to 150 also
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