Coder775

BTC USD, Correction ABC - Next ~61 Days Prediction +/- 9 !

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Hi everyone.

Looking at what's going on, on BTC market, we can clearly see, that's correction ain't over, what I already told you in my last analyze. Today I'm looking closer at targets for the next 61 days.+/- 9 days !
So what's are my targets?
TOP what we can go, would be 0.5 FIB = 9500 $ (But I don't think that will happen, as we couldn't break 9100, but we may retry that target)
TP1 = just above 0.786 FIB which is 6700 (my target is a bit higher as we have a heavy resistance at 6900), so my target is 6900.
TP2 = 5400-5100 (That's from my ichimoku calculator).
TP3 = the final one, would be from 4600-4200 (4600 is ichimoku target3, 4200 is 0.927 fib, which would be the same retrace as we had in 2015) - Target is set for 22.05.2018 +/- 9 days.

Why do I think that we are still in correction?
1. We are under MA200 on 1 day charts (last time that happens was 2015) As shown on the picture.
2. Tenkan Line (red) in ichimoku crossed KINJUN (blue) line, which means we are in bearish time. We are under red cloud ( bearish cloud).
3. MA50 (Our TOP target ~9500) Is heading DOWN! .
4. Elliot Correction Wave ABC -
5. Same correction 2015, but it took longer but still ichimoku strategy (9,17,26,52,78,104,130) So 130, 52,78,130,17 (all of those numbers are ichimoku!).

I think that's all from me, analyze and let me know what you think about that.

If you liked my analyze, press LIKE!

This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Comment: I would like to point, that our first target is 8200, from there we may go UP even to 9500, !
The question is, if the 8200 will hold or not, so look closely.
Why 8200?
that's the bottom of the cloud at 1H chart, and that's KINJUN (blue line) on 4H.
What do they have in common? That KINJUN can push the price to go so is bottom of the cloud. Below I'm posting 2 pictures, 1H and 4H.
4H - red line on KINJUN.
1H - red line from 4H is at the bottom of the cloud.
Comment: Guys I'm Really sorry, but there is a mistake with years .
IIt wasn't 2015 it was 2014 !! Sorry for that mistake.
Trade closed: target reached: Hi everyone.
I have an update for upcoming days for you.
So I do believe that we are on a way to generate a ABC,12345 Elliot Wave.
Just take a look at the picture below.
What a through analysis . Lovely.
Reply
Agreed. Thanks for your fantastic analysis. I have some similar ideas. Though, of course, we really don't know for sure ahead of time what the bottom willb be. Check my idea for shorter term.
+1 Reply
Coder775 cedarfox
@cedarfox, By the wave size you can calculate the bottom. (Read about it).
When you will learn how to calculate, you will see that people which done their calculation they knew that BTC is dropping to 6k.
Thanks for your analyze. I will check it out.
Reply
well, first 8200 then 6900 as end of the tail.
AFTER that the newe fractal will be maybe to 9200 again, yes.
And the end of THAT fractal will be probably 1300. Like in 2014.
If not, we will get a break out and get bullish right up (but I don't think so!)

As you can see, the JOES-fractal is everywhere! Check-it out.
Reply
Coder775 cryptopaatje
@cryptopaatje, if you will check correctly my post, i made a mistake. I took 2013-2014 as example. not 2015.
If you will check it correctly in 2014 we have 0.927 FIB retrace. that means if we will go to the same FIB it's 4200$ so you are wrong.
Reply
@Coder775, yes maybe, with this lifting-up by the bulls, we can end up higher indeed!
Reply
Coder775 cryptopaatje
@cryptopaatje, i think ichimoku is the most ac-cured analyze technical right now.
Reply
@Coder775, yes maybe, I know nothing of it. But the discovery that all cryptos are driven by 1 fractal ! is enormous. How to read the movement of the fractal is a problem to be studied. If succeeded with you can pretty well by the hour (!!) what direction we 're heading.
So, a new indicator for our profit! (hope so)
Good luck
Reply
Coder775 cryptopaatje
@cryptopaatje, You can use it on 1H,30M and others, but I don't do scalping so I'm working on 1D/4H which is in between .
Looking at BTC, lower time frame, I can tell you, that we may hit 8700/8750 (8700 is entry to the cloud, on 30M) 8750 is Kinjun line. As shown on the pic below:

And on 15M you can see that we have the same target (8750 entry to the cloud)

But to be hones, on 5M we can see that bears are winning and on the magic number 9 bar we turned down. As i mentioned 9,17,26,52 etc. We have turned on the 9th bar, that means for next 8 bars we are bearish. What next? the 17 bar will tell us, if we will close on red, that means we will go up to 26 bar down =)
Reply
@Coder775, I believe ichimoku failed you this time.( no 8200, no UP 9500, no 8700 for example)
Maybe new analysis would be closer.
At my BIG JOES-fractal from 1W-chart (just published) we'll see a downfall indeed to maybe 4200 or less!
Reply
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