IvanLabrie
Short

BTCUSD: Emergency update

BITSTAMP:BTCUSD   Bitcoin / Dollar
1791 21 17
We have a weekly time at mode uptrend failure, this is terrible news.
In my last chart I warned we could be declining sharply after what looked like a corrective structure completion ending on a truncated fifth wave, which did led to a sharp fall, but the timing was rather off.
It's possible this was due to the nature of btc , which is rather low liquidity, and possibly distorted the wave count's proportionality in time.
As for time at mode, I have a short signal, since we broke the mode, rgmov looks really bearish I'll try to short on a retracement asap             .
This might be related to the Bitcoin XT             consensus fiasco, which has been recently coming to light.
http://cointelegraph.com/news/114646/andresen-proposes-hard-fork-patch-for-bitcoin-xt-critics-remain-skeptical
https://medium.com/@octskyward/why-is-bitcoin-forking-d647312d22c1
We might be headed to 122-86. Yikes...
I'll update with a safe short entry.
Good luck!
Ivan.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
Mr.Thirsty
a year ago
I like it...
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IvanLabrie PRO Mr.Thirsty
a year ago
Well, as far as liking goes...I don't! Not a good time to be invested 70/30 in BTC and Ethereum. Who knows what can happen to ETH now!
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I've converted my btc into ETH atm. It's rallying nicely.
No time to send to Bitfinex, I'll have to wait for the dust to settle, updating the ETH chart now.
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IvanLabrie PRO IvanLabrie
a year ago
(this was a smart move, made big gains from switching to eth and 70% back into btc)
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CelsusAlonso
a year ago
A safe long enter would be difficult to tell right now, right?
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IvanLabrie PRO CelsusAlonso
a year ago
Long what?
I went long at the lows. It's really hard to say without being biased.
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Ethereum: Bitcoin crash, fundamental catalysts and time at mode
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Lanmar PRO
a year ago
Big trouble indeed.
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IvanLabrie PRO Lanmar
a year ago
This is the lowest daily CCI reading in a very long time, typical of a paradigm shift/the beginning of a new directional action period.
Also, the whole leg from the top has already retraced 100%+ of the advance from the green arrow on my chart and price is sitting under a long term accumulation level, it won't come back up.
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richzoey IvanLabrie
a year ago
Thank you for update, helped me a lot.
Do you have any idea where is the bottom?
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IvanLabrie PRO richzoey
a year ago
The bottom can be either 150,122 or 86.
But it's uncertain.
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snapshot
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I like it, I'm currently gathering crowd wisdom on the price of bitcoin and would appreciate your votes at http://www.btcballot.com
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Time at mode target hit.
We might consolidate now.
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I'd unwind longs at this point if we get a retracement.
And focus on finding shorts.
We might be traveling towards 167 or even new lows.
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snapshot
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IvanLabrie PRO IvanLabrie
a year ago
snapshot
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IvanLabrie PRO IvanLabrie
a year ago
(long worked like a charm, 34% gain)
Now pending shorts.
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BuyBitcoin.WS IvanLabrie
a year ago
Are you planning to short at 240-238 area? I see this as a kiss of death before doom to $16x and then lower. Several indicators are bearish. thx
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IvanLabrie PRO BuyBitcoin.WS
a year ago
Yes, both time at mode and my EW count point to a mode retest from underneath before plunging to retest the low or breaking it.
I also think it's possible to see the completion of the bear market phase soon. Will update it again once it's confirmed. (the move down from my previous 'bulls in danger' wave count, is waves 1 to 3, the recent move up is an incomplete 4th, pending 5 down)
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