chessnut

Bitcoin to dip to a final v wave low - EW analysis.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
475 4 2
Bitcoin             is offering a clear EW count after a long down trend into the 200's region. We have seen a iii             wave, either of larger wave III             or V dip down to 275. the bounce was not impulsive, and we require a wave v to terminate the whole move. this count, a fourth wave triangle residing within the territory of the iv wave of one lower fractal is simply a gift, this is one of the best risk reward opportunities EW could offer right now. stoploss at 347, target 0.618 of wave iii             , 270.

When we get there, BUY BUY BUY! (carefully) - weather wave III             or wave V _OF GREATER C_, we are going to bounce to 450+!! This could be THE low before next grand cycle wave V takes us to 1000+!!
at this point i would almost go as far as to say, this didn't play out, huobi broke 2140, if its able to keep around 2120-2140 for at least several hours (*12hr) i think we have broken this idea
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Huobi didn't break out yet, as long as huobi stays under 2120 this is still possible
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Aaaand it failed :)
Were going upwards !!
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chessnut Maddie
The V wave has not yet failed, but iv triangle has. dont speak too soon, the iron is cooling.
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