Cryptopile

Wave 5 to come? Bitcoin

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi Traders
Scenario 1:
BTC 2.51% has just finished minor wave 4 correction of intermediate wave (1) of primary C wave correction from ATH 0.08% .
Minor wave 5 is yet to come. Target $7800-8000 - .618 fib retracement
4 hourly has closed doji reversal.
RSI is sufficiently high enough to enable further drop.
EMAs have crossed.
Bearish trend on weekly RSI confirmed with 3 points of contact.
The following week will be interesting. Expect a decent intermediate wave (2) ABC correction upwards after minor wave 5, before downward intermediate wave (3) of C begins - this will push us down to previous low.
Scenario 2:
Still working on it! lol
This is not trading advice, purely for education.
Chur
Comment: Scenario 2:
Looks possible on the daily chart...
Just completed intermediate wave 2, and starting intermediate wave 3. This would push the lows way down to between $3700-6000 range - depending on whether it is a 1 or a 1.618 of intermediate wave 1. Will need to wait for a few days for some confirmations.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out