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Like2Move
Oct 19, 2017 4:58 PM

The 5th wave began Long

Bitcoin / DollarBitfinex

Description

The 5th wave's first move (i) nears to the end and some retrace down (wave (ii)) to support 5450 expected. Or may be only to 5500.
A rebound as wave (iii) targeting above 6000.

Comment

Wow, very strong uptrend! Retraced to fib 0.236 level only. Targeting to 6200, 6400, 6600.

Comment

Opportunity to re-enter rally:

Comment

The critical moment: if the price falls below 5890, we will probably see more down to 5700. But I hope that the price litlle by little will go up.

Comment

Likely, price went close to the ground.

Comment

...and what if the 5th wave is over?
Comments
Ginossim
How can I learn what you do. It's fascinating.
Like2Move
@Ginossim, Many hours has analysed price movements and apply technical analysis tools, while succeeds partially predict.
sergionero
Is it probabilicticaly possible so short 5th wave?
Like2Move
@sergionero, yes, but a bit risky. There will be a swings until trend turn down. Short 5950 area, stop 6100. If price return to 5950, get out.
Ginossim
Do you still expect the coin to fall to the box before 10.25?
Like2Move
@Ginossim, Some local fall expected. Long at 6000 and a bit lower (if price will fall). Be careful. Explanation - in the timeframe 60 minutes EMA 10, 27 and 43 acts as a supports. Support is stronger in confluence with fib retracement levels 0.236 and/or 0.382 (in these areas). If price breaks down 0.382 level, new lower lows can be expected.
sergionero
@Like2Move, Bingo! )
Like2Move
@sergionero, And now let's pray for the price further rise up :)
Like2Move
By the way - next support was at fib 0.618 retrace.
Like2Move
Yes, it is. Above 5880 break up expected.
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