alphahorn

Looks like a completed leading diagonal for BTC

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Posted this last week, but there was still a bit of work to be done to complete the leading diagonal for BTC             . If this count is correct, then intermediate wave (A) of primary wave two looks to be complete. From here we should see an impulsive move up that retraces around 78.6% of this move down from all time highs for intermediate wave (B). Once wave (B) is complete this count calls for another big move down to complete primary wave two. It'll be interesting to watch from here. But I've added my final allocation at these levels, stop at 5400.
I DOUBT ITS GOING TO 4K..EVEN
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@ghose12, huge buy walls at 5-5.5-6 evels..senate hearing is quite positive today.
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ghose12 retiringsoon1
@retiringsoon1, cant say..they may go again down..i am strong at 5k but if another dip from 8k happen then we will smash 5k too ..
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so you expect a more 2014 like correction in the making a bearish year?
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alphahorn retiringsoon1
@retiringsoon1, I'm presenting a possibility that I plan on trading by going long here and should it indeed start moving upward, I'll begin taking chips off the table at the 61.8% retracement level and plan to be out of my longs by the 78.6% level or if it turns south after 61.8%. I'll then stay in cash until it either makes a new low, shows a bottom or makes a new all time high.
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