YipYip
Long

Where to From Here ? - What Does it all mean :S

BITFINEX:BTCUSD   Bitcoin / Dollar
That was a wild ride .... But as per my previous chart completey expected ;)

Everybody is asking is this over or do we have more downward pressure ?

So as to hopefully clear it up I have broken the C leg down into its 5 waves (green) and then the 5th wave of the 5th wave wave (blue) i.e the sub wave of 5 or as I like to call it ( the killer blow :D )

As long as we hold @ 265+ we can see a move back up to 320-340+ and we have not broken the sequence as per the purple 5 wave up

If we break below 255 all bets are off and it will be armagedon as we will be heading down towards 200+ support

I hope this brings some clarity but im now long at 265 with a SL @ 258 with Targets (T1) 279 . Dont be surprised for a sharp retrace on wave 1 (purple) as the market tries to digest and comes to grips with the shell shock that just happend and all the bulls who where long @ 280 .

I m sorry for your loss :S

Related Ideas

LeMogwai PRO
2 years ago
Nice chart!
I don't often agree with you but on this one i agree 100%. If we break 255 it's doom but like you i expect the bull trend to hold.
Reply
YipYip PRO LeMogwai
2 years ago
Nice to have consensus mate :D
As i mentioned the last 5 days Im bullish from here but I can see an ALT wave count where this movement is not finished :S
If we break 260 proper we are doomed 200+
Reply
yomofoV PRO
2 years ago
even if we get a major wave V up, its probably going to be truncated, there wont be a $340
Reply
Alcor
2 years ago
Well that escalated quickly..
Reply
YipYip PRO Alcor
2 years ago
lolz .. out of control .. A bitcoin XP ;D
Reply
BTCNow
2 years ago
You certainly picked it. Bounced off 255, do you think there is enough support there?
Reply
YipYip PRO BTCNow
2 years ago
Im out until it can start to show me a sequence .. ATM Im sitting on my $$ and its a waiting game .. really need a good 12 hours to show signs of direction ;)
Reply
kenzboard PRO
2 years ago
Armageddon it is...
Reply
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