BTC/USD OkCoin Reversal

OKCOIN:BTCUSD   Bitcoin / Dollar
136 0 0
I believe we are in the process of correcting from our traversal up an Elliot Wave , 5 levels, and are now coming down, 3 levels in a Major Correction.

Currently C is undefined as we are still in a pronounced downtrend. I'm a firm believer in the "danger zones" of 23.6% and under, and believe for a stock to succeed it must not breach this zone, or rather, if it does breach this zone it must rebound in spectacular fashion.

My overall prediction is a reversal between 35x and 36x. Worst case, 34x. This would be the 0-15% zone, where the weak old investors from the orignal 0-15% Fib zone would now be replaced by stronger hands who will help the rally for the new 5-Cycle.

I am currently long, from 395, but this is due to a mess up in a trailing stop that should have triggered upon $10 difference.

I would remain clear and not buy until the trend is defined, PPO curls to -2, and more volume pumps in.
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out