cbistriceanu

BTCUSD wave 4 complete - Starting EW5

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi all,


It has been a while since I have posted an idea here but that is with good reason as i did not make any sense to post anything until the EW 4 correction is complete. Also, I tend to analyse the macros trends, therefore once we have confirmations of moves being complete, it would make sense to update ideas and post new ones. With all that said, here is my idea with how I am seeing this market in the next 3 to 6 months. The four year cycle we are currently in, it's about to end in 3-4 months from now. My feeling is that this will happen around mid or end of November, possibly sooner. Each cycle though, extends a bit longer time wise but also gets less volatile too. Therefore, I have notices that each cycle the returns and the moves of the last EW are about 50% less than what they were from the previous cycle. With this in mind, Here is the chart in all it's glory and the targets I have for the last EW 5 this cycle.

As always, good luck and make sure to lock in profits.