kumarz

05May2015_BTCshort-mediumtermUncertain2Up

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
54 3 1
I reckon the odds in favour of that consolidation I was expecting are diminishing, and given we've stayed above that long-term blue trendline for a fair bit of tme(and not just wicked/spiked above) suggests we're headed to meuhnn, but I ain't too convinced yet.
Also note we've had a clear 5-wave             impulse since the 5-wave             5th dive from 239 to 214 that rose further than 239(the prior 4th wave). Expecting an a-b-c correction(that will hopefully stay above that longterm blue trendline ) before a violent rise. And I'll have to rethink things a bit if we crash below 229ish(50% of the last 5-wave             upmove)
I'm thinking violent wave-3 up from here but too chicken to go long just yet, will probly start from 249s and still have a long way to go :)
Count invalidated if we go below 224
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kumarz kumarz
DOH so I did go long and boom, epic fail again! Got to re-do my counts as it seems DanV's one is playing out at the moment ...
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I've been getting too lucky lately, beginning to reduce positions in fear of hubris. This chart playing out well, keeping longs open for now as we didn't decisively go below 230s.
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