user100000
Long

Wave 5 underway

BITSTAMP:BTCUSD   Bitcoin / Dollar
My previous impulse wave count is still intact starting at 219.03 where wave Z/II ends. Nothing has changed except wave III             to 114K will be a five wave impulse instead of a large zigzag (my old diagonal count). I may have to adjust the wave degrees but that's not important for now. I have a couple of targets for wave 5. The first is 338 which is 0.618 of 1~3 (most typical target for 5) and if wave 5 extends it is quite normal for markets to move towards 100% of 1~3 at 375. Look for a bearish divergence between 3 and 5 as the market approach those levels.
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