Nickonomics

BTCUSD Short-Term Update: Deeper Pullback Scenario

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Wave analysis suggests that selling pressure may continue today and into the weekend. This wave count is bearish . We need more price swings to be completed to apply appropriate pitchforks , so stay tuned for updates. Most important levels are drawn on this intraday chart.
Comment: Trying to find support @pitchfork's signal line. Watch these 2 forks for breakout setups:
Comment: That's what I meant by saying watch the forks for breakout setups. Classic pitchfork trade:
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Comments

Very good analysis.. in your opinion, where the price will up again?
+1 Reply
@fzl_btc, It depends on time-frame, as I believe, Wave 3 of the main trend has either ended or it will end sooner than later. Then comes corrective Wave 4, and then the next best buy opportunity. I will update on longer-term trend soon.

Reply
Eudoxiu Nickonomics
@Nickonomics,

(4) was on May 4-7
you can check the duration of 2 and 4

the top is in
Reply
nailed it
Reply
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