user100000
Long

major trend change

BITFINEX:BTCUSD   Bitcoin / Dollar
745 14 5
market activity above wave 4 signals major trend change is in progress
True that we'd have to have a couple of down days after that recent ride up. The bots are programmed to take profit and then to get long for the upswing.
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That may be true, and I'm no expert on EW, but that's the weirdest 12345 count I've seen so far...
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Yes, this plus the fact that bitcoin spiked above the 50% retracement of the move from 2 makes me think we have bottomed. Interestingly though, both Litecoin and Dogecoin topped at the 38.2% and 50% retracements from 2 which implies that they have at least another wave down to go, so the downtrend for the alt coins should continue for a while.
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I see a nice impulse on the 15min chart, following a triangle too.
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chessnut chessnut
...on okcoin and huobi...
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I don't think we finished the final Wave C down. Specifically, I think that the the final wave (v) of 5 of V of C has just begun (my chart doesn't show the smallest wave (v)).

Further, we have Fibonnaci Clusters for estimated end points of waves 5 and V at 0.618 of waves 1-3 and I-III, respectively. These Fibonacci Clusters show an estimated end point of approx 960 Yuan ($140-$160).

BTC-CNY - Final Leg Down
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chessnut Unapologetic_Capitalist
your 1-2 and 3-4, and I-II and III-IV are totally overlapping.
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1-2, 3-4 are indeed overlapping because, I believe, Wave V is an ending diagonal impulse wave of corrective Wave C (which is the only exception to the rule that 1 and 4 can't overlapped).

Similar analysis re ending diagonal for I-II and III-IV, as Corrective Wave C seems like an ending diagonal as well.

I could be wrong, but Wave C and Wave V being ending diagonals indicates, at least to me, that the bottom is near.
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Unapologetic_Capitalist PRO Unapologetic_Capitalist
Further, both ending diagonals are following the 3-3-3-3-3 diagonal impulse wave exception, as opposed to the 5-3-5-3-5 rule for normal impulse waves.
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BTCCNY EW juncture -  long opportunity, Big Mac special.


Interesting things happening on the smaller scales...
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Here is a possible count that would make the most recent spike above $300 "wave 4 of C".

With a break above $340 I would start considering that a bottom was already in place.

snapshot
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Nice count Kappy.
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I believe we've hit bottom. I've detailed my reasoning here:
EW Analysis for BTCUSD - Bottom Is In
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We're at about 214 as I write this (Superbowl Sunday). Is this wave count invalidated?
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