Nathanael
Short

Ending Diagonal (Update)

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
668 7 4
I have done some math to upgrade the precision of my c wave ending diagonal .

Wave 5 (or e) must not be longer then the length of wave 3 (c)

The length of wave 3 (c) is exactly 277.00.
I got that from subtracting the top of wave 3 (837.00) from the bottom of wave 2 (610.00)
837 - 610 = 227

Currently as I publish this chart, the top of wave 5 is around 916. The longest wave 5 can be is exactly 227 points higher then wave 4 which equals 942.60.

Therefore, if we break 942.60, then this analysis is completely wrong, and I have incorrectly counted my waves, and I will be made fun of on reddit.

What I don't really know is where we will end up, I'm guessing from previous support, and fibs, we will end up at least below the 500 line.

Thanks and good luck!
flibbr PRO
3 years ago
That 720 btc buy on at $910 on Gox might keep forcing this up ! Go down dammit.. ! Down !
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flibbr PRO
3 years ago
Bullish breakout from rising wedge ? C'MON !!!!!!!!!!!!!!!!!!!
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Nathanael flibbr
3 years ago
not a bullish breakout yet, wave 5 (or e) tends to go a little out of the trend lines in an upward diagonal, just like this chart. Im not turning into a bull until we pass that magic number of 942.60
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flibbr PRO Nathanael
3 years ago
Yeah but it broke the trend... IT BROKE THE TREND !! Fucking bitcoin, thing just doesn't go down.
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ChsaDos flibbr
3 years ago
Bitcoin goes down. Just gotta be patient - and when it happens, it happens fast :D
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flibbr PRO ChsaDos
3 years ago
Yeah, hold... hold until parabolic.. hold more.. more hold... wait for panic sell. DUMP !!!!! Rebuy quick.. rebuy quick.. quick rebuy... sell in bull trap... Rebuy quick rebuy... and HOLDD!!! .. is my usual strategy.
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touched 944, but jumped right back
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