user100000
Long

Wave 5 = Wave 1

BITSTAMP:BTCUSD   Bitcoin / Dollar
895 7 7
it is often the case where wave 5 equals wave 1. i show the target at 309. in that case wave 5 is considered truncated
Good analysis. This is similar to what I have in mind could happen if there is a solid bounce / bottom at around $350, at least above $325..
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user100000 ChartArt
thank you. sometimes the simpler the "analysis" the closer it is to reality. keep it simple!
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ChartArt user100000
Here is a simple analysis: If it goes down to 2000 CNY that would mean ~ 325 USD could be the bottom :)
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Your highest line can't be confirmed this only has one touch point with the chart....
A good resistance line needs to have 3 touch points hehe.
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thanks for your suggestion. that was a channel. my understanding is to join the 1 and 3 and draw a parallel line touching 4.... moving the upper channel line to make room for 4 until its done. this is the ew way. im not sure about regular TA how they go about it
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triple bottom?
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user100000 superbinge
yes looks that way
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