Crypto_Ed
Long

Bitcoin targets 4000

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I was expecting this pricezone as a completion of a 5 waves up.....But if we stay above the trendline , it may be that we just did 3 waves up and we have one more leg to go.
Lets see how the correction will be right now......
Comment: This could be a smaller correction before further up. Small trend reversal pattern, might bring the price towards (4) before further up.
Comment: FYI: Targets are calculated with Fibonacci extensions
Comment: Update: pattern extended a bit more as expected but is still the same: reversal pattern after an impressive upmove.
We broke out of that channel already, looking for some more downside.
Blue box is first target for this ABC-correction. Target is determined with Fibo and funny enough, exact on the yellow trendline.

Watch priceaction once blue box is reached to see if we go back up again (for leg 5) or more down.

Trade what you see, not what you think!

Comment: The correction after previous top, became a bull flagand didn't get as far as I assumend, but hey: who cares :-)
Just broke out and now heading north.

Comment: Now when the pullback is finished, we can place 4 and determine our target for 5.
New target seems to me 4100 at least, with a short term target in the smaller blue box where we could see a (smaller?) retracement.

In my updated chart, we see another break out. trading advice: very simple==> just hodl and move your SL higher after each bounce.

Comment: BTC broke out this morning but retraced back in previous channel and showed several bearflags. This might retrace a bit further. Be carefull and use proper SL management!
Comment: Target reached and even more!
Trying to figure out what's next to come.....
Will update later.
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