RomanoRnr

Bitcoin - Count The Waves With Me (Second Attempt)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Studiying The Elliot Waves again
Second attempt.

Could wave 5 be the point of a Trend Reversal ?
Will the pattern repeat? Is it the start
of a new bearish trend .

Or am I wrong about the waves?
Please leave a comment.

(I don't give exact dates for Targerts to reach*)
Elliott Waves just don't seem to apply to bitcoin.
-3 Reply
RomanoRnr MoonTrader
Reply
I agree with the current wave 3 that we are in, but I don't think wave 3 is done just yet. I am pretty new to Elliot Waves, and TA in general, so I don't know if pause in wave 3 is possible. As far as I can tell, we are going to make one last run up to $750 or so and then start wave 4 from there. What do you think of that?
Reply
RomanoRnr Macainian
Wave 3 could be arround the $715
But I am looking at RSI to, and I think we finished wave 3.

680 looks unbreakable. I think we need to have a retracement.
If my wave count is correct.

Wave 5 should be in the red area. Can't give a exact price.
But in the previous cycles There is a big recistence between 708 - 750.

I guess we need to be patient.

If I'm wrong about the wave count, I can do another attempt.
Reply
RomanoRnr Macainian
Reply
RomanoRnr RomanoRnr
So my first Short Target became True.
+1 Reply
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