alexyeoh
Long

Subwave count updated. Subwave 3 underway.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

So I think we've just entered subwave 3. I thought that we may have been on subwave 5, but reviewing the current movements seems to indicate we have only finished subwaves 1 and 2.

The good news is that we have a confirmed end point for subwave 1 so you can set your stop orders in. The btc             price should not exceed $7899 without invalidating the count.

I believe we are on a wave 2 on a motive going up, but there are some who believe we are on a wave 5 going down and we just finished a wave 4 from $6504 -> $8450. So we have to allow for that possibility.

If we are on a wave 5, then the price will go to at least $6500 and will go lower, so putting in a stop order at $7899 is safe to do.

If we are on a wave 2, then wave 3 could start at any point probably $7700, maybe as low as $7500, but not lower than $7450. If the price goes lower than $7450 then wave 2 is invalidated which implies we are really on wave 5. Either way, $7899 is a safe stop order to be safe to catch the bull run wave 3 if it happens while you're not paying attention. (of course you have to wait for this current subwave to go way below $7899 before you put your order in; watch the mini-subwaves to determine when it's past a safe point).
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