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UnknownUnicorn1413254
Mar 22, 2018 10:16 AM

Bitcoin: My two most likely scenarios! 

Bitcoin / DollarBitfinex

Description

For me it's really interesting to see if we get one final impulsive wave down to the 7k support like I talked a lot of times about in my previous posts or that we will form a higher low in the daily chart. In both cases I see a target of 13k or 15k usd likely in upcomming months.

The only big question for me: Will we see the 7k range again before going up?

I'm currently in USD, I personally don't find it smart to open short at this price. I'm only looking for higher low or a touch of the main support line around 7k usd to buy in.

Comment

It looks like we're already made three waves down. I just bought in like I told in my Discord community at 8.400 usd with a stop-loss at 8.300 :)


Comment

I made the chart more simple for everyone to show my trade on the longer time frame.

Comments
SRNOSTRADAMUS
monkia
Thanks for sharing. You're scenario two is not a valid wave structure as you have them labelled, you need an X leg/wave between those two ABCs. That 2nd scenario would fit within the first ABC being wave 1, second ABC as you have them and then next 1-5 being wave 3.
monkia
@monkia, You're^Your
UnknownUnicorn1413254
Hi @monkia, Your right there! I should have put the X between the ABC's. :)
EatCrypto
@monkia, which book would you recommend for learning Elliot waves analysis?
monkia
@EatCrypto, this is the best: elliott wave principle by frost and prechter
EatCrypto
@monkia, thanks, let me check it out
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