surangadesilva
Long

BTC BEST Buy Zone for the Last Wave During Consensus 2018

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Everyone is Super Excited with the up coming Consensus on May 14 - 16th and waiting for the Bulls to Arrive soon

We are still in the Last Wave ((v)) of the Wave A Correction ready to go to Wave B.

In that last Wave ((v)) we have 5 subwaves ( Wave (i) - (v) ) and I have done Wave (ii), ( iii ), (v) Projections according to EW Fibo levels.

According to all that the "BEST" buying zone is after Wave ( iii ) is completed as we don't know whether we will have a Truncated Wave (v) if the Wave ( iii ) is strong which will not pass Wave ( iii ).

See more about Truncated Wave 5 here: http://thepatternsite.com/EWTruncation.h...

Also the last Wave (v) of Wave ((v)) of Wave A will be completed in 2-3 days as we are still in Wave (i). Please note that Wave iv is usually 0.5 - 0.618 but we had only 0.236 in Wave (( iii )).

RISK DISCLOSURE:

Please note that this is purely Educational purposes only and not as Individual Investment Advice. If you choose to follow the above techniques you do so at your own risk after giving thorough and reasonable thought and consideration to your actions and their potential consequences
Comment: We are on Wave iii of Wave (ii) going up to 0.618 - 0.8 of Wave (i)
Comment:
Comment: Good starting point to understand these waves:

http://stockcharts.com/school/doku.php?i...
Comment: We had unexpected volume during the Consensus which took the price to 8800+.

Our projected Wave (c) was between 8.8 - 8.9+ but it didn't manage to break the Bottom of Wave (a) @ 8209. Which means that we are still in that correction wave ((iv)), Wave (b) going to (c).

We also had double bottoms & Triple bottoms @ 8350 and we should've waited until the price break of the Wave (a) @ 8209 for a Wave ((v)) confirmation. Lessons learned

Comment: Also the Market will continue doing what it was doing before going down on Wave ((v)) before going up 1k+ on Wave B
Comment:
Comment: We got a Extended Wave (c) and inside that we got 5 subwaves (i,ii,iii,iv,v) and we are
in the last wave iv going v.



In that Impulsive Wave v we got another 5 waves. When I calculate According to these values

Wave iii = 1.618 x Wave i
Wave v = Wave i

I can see that Wave v completes at the top doing a Double top ~8.9k



If BTC goes above 9k then most likely we need to recount the waves to find whether we are in a different Corrective Wave pattern (Not ABCDE Triangle Pattern)
Comment: I have also done the Trend Channelling method to find the Wave v target according my previous Idea:



This is the current Wave v projection according to that:



According this 2 types of Wave v Projections it seems like Wave v completes in 8.9 - 9k area



If BTC Correction Wave (iv) Completes here then it's time to go down to the "FINAL" Wave (v) then I will do an update with the new "BEST" Buy Zone.
Comment: Last Wave v just started
Comment:
Comment: BTC should reverse between 0.5 - 0.618 of wave iii. If it continue going above 8.6k means that wave v is truncated
Comment:
Looks like the Wave v of Wave (c) ended doing almost double top closer to 8.9k. This can be confirmed when BTC goes below Wave (b) which is around 8.2k

If this happens then the BEST Buy Zone is closer to the end of Wave iii of the last Wave (v) of Wave A.

These Waves done with the EW Fibo numbers compared to the previous Wave and the BEST Buys Zone falls between 7.8k - 7.9k.

It'll be so hard to catch the bottom of the wave (v) as lots of people might have limit orders around there.

This chart can be confirmed once the price breaks 8.2k but this is give you an idea



Good luck
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out