LeMogwai
Long

27/08 -> september begin : Extreme and normal bullish ideas.

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
425 4 1
Uptrend Observation :
The first push ( elliot wave cyan 2) have a raise of ~12%
The second push ( elliot wave cyan 4) have a raise of ~16% if we take into account the following uptrend to touch 125.
The current push ( elliot wave green 2) have a raise of ~13%

-------- Extreme bullish idea (blue elliot wave ) --------

This idea is based on exponential uptrend, it's really bullish so don't expect it too much to happen.
According to my first idea about BIG (again :P), i talked about a possible push to the top all the cloud for the beggining of september.
This is represented here by the blue arrow.
It suppose that the current push to 133 isn't finish yet and will continue around the 28 to go to 143ish.
144 is a push with a raise of ~21%.
We will have a exponential uptrend with successive push of 12% -> 16% -> 21% and maybe a following one of 27% (yes, really bullish ^^").

-------- Normal bullish idea (green elliot wave ) --------

This idea is based on a linear uptrend with many push of ~13%.
This idea is more realistic and seems to be the one we are following. It's strong and less exposed to big sell off.
We can expect another push to 143ish around sunday 1st september or even a little later if we still follow a low uptrend for several days.

Note : i don't talk about possible downtrend after the push because it's too much imprevisible and the market seems to react differently at each push.

As usual i am open to any suggestion to improve/update this chart.
Trade safe :)
LeMogwai PRO
3 years ago
It was to expect, we are currently following the normal bullish idea :)
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vlad.adrian PRO
3 years ago
i hope i won't seem smugg, i'm really curios. Do you understand and follow all those ichimoku's?? for me they seem impossible to read when they are so layered
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LeMogwai PRO vlad.adrian
3 years ago
I usually disable the ones that are just some "noise", globally it shows support and resistance based on previous price movement. It's really usefull to anticipate cycles and to show where a break down/up will probably jump
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