Dec 2017 to March 2018 wave count - Not as gloomy as most TA's
Bitcoin Dec 2017 to March 2018.
My current wave count isn't as gloomy as I believe most other TA's are.
I see the possibility that we are now on a wave-2 correction of a large 5-wave impulse going upward.
Please feel free to analyze my count and point out any flaws.
Please do note that I am not at this point "Highly Confident" we are going to shoot upward very soon.
A lot of indicators don't paint a very bullish picture right now, and the overall atmosphere in crypto isn't the most positive.
Just wanted to share a count that seems valid.
My current wave count isn't as gloomy as I believe most other TA's are.
I see the possibility that we are now on a wave-2 correction of a large 5-wave impulse going upward.
Please feel free to analyze my count and point out any flaws.
Please do note that I am not at this point "Highly Confident" we are going to shoot upward very soon.
A lot of indicators don't paint a very bullish picture right now, and the overall atmosphere in crypto isn't the most positive.
Just wanted to share a count that seems valid.
Comment:
A more detailed/close count of my wave-2.
Comment:
BTC didn't manage to maintain an impulse up in 1st attempt, however we still have good news.
We retested the previously established support line which I believe we shouldn't break well below today.
This retest should give us strength to rebound better.
Possible 7500-7900 today.
We retested the previously established support line which I believe we shouldn't break well below today.
This retest should give us strength to rebound better.
Possible 7500-7900 today.
Comment:
Bitcoin coming along well. As we have more data, I can update my target.
Main target for this impulse 5-wave up is: ~7350
Target range: 7250-7500
Avg Time: 6-12 hrs
Main target for this impulse 5-wave up is: ~7350
Target range: 7250-7500
Avg Time: 6-12 hrs
Comment:
Updated late here (I'm more actively posting on Twitter).
I realized earlier that the 5-wave count is out of question, and sold into fiat, expecting this to end as an ABC wave up.
We should see another ABC down, a channel is forming.
I realized earlier that the 5-wave count is out of question, and sold into fiat, expecting this to end as an ABC wave up.
We should see another ABC down, a channel is forming.
Comment:
This likely caused this recent $BTC pump 2-3 hrs ago:
Price manipulation of Bitcoin – OKEx announces rollback of futures contract data.
"OKEx has announced that to protect the interests of all its users, all future transactions will be rollbacked to 5:00 March 30th, 2018 (HongKong time)."
ambcrypto.com/price-...tures-contract-data/
The March 30th massive $BTC dump:
"OKEx made public that a number of users performed unusual transactions to manipulate the price of BTC’s quarterly futures contract on March 30th, 2018, making it deviate sizeably from the BTC index."
Price manipulation of Bitcoin – OKEx announces rollback of futures contract data.
"OKEx has announced that to protect the interests of all its users, all future transactions will be rollbacked to 5:00 March 30th, 2018 (HongKong time)."
ambcrypto.com/price-...tures-contract-data/
The March 30th massive $BTC dump:
"OKEx made public that a number of users performed unusual transactions to manipulate the price of BTC’s quarterly futures contract on March 30th, 2018, making it deviate sizeably from the BTC index."
Comment:
Bitcoin's current count/path I am considering.
Symmetrical Triangle forming, which could either break down sooner at my point D, or after another bounce, hitting point E.
Regardless of OKEx's admitted Price Manipulation of BTC, algos will adjust and make a path out of this.
Symmetrical Triangle forming, which could either break down sooner at my point D, or after another bounce, hitting point E.
Regardless of OKEx's admitted Price Manipulation of BTC, algos will adjust and make a path out of this.
Comment:
I'm broadening my potential target range for point D.
6820 to 6670
(Remember, it could also break through below here)
6820 to 6670
(Remember, it could also break through below here)
Comment:
We are also now touching the bottom of a channel here.
(Hence the hesitation)
Soon we will know if we break below it or bounce.
(Hence the hesitation)
Soon we will know if we break below it or bounce.
Comment:
BTC - We can see that as soon as the price touched my 6820 upper target set earlier, bulls attempted to rebound with decent volume coming in, but failed to sustain and mostly neutralized
Still not decisive for either direction yet, but we should find out in the coming hour.
Still not decisive for either direction yet, but we should find out in the coming hour.