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IamCryptoWolf
Mar 14, 2016 5:31 PM

WW GEO *Update* Long

Bitcoin / U.S. dollarBitstamp

Description

Wolfe Wave BTCUSD Technical Analysis :

1) Points 1-2 should be FARTHER apart than points 3-4
2) Points 1-2 and points 3-4 are connected by a zig-zag ( a simple a-b-c pattern in this case)
3) Points 2-3 are connected by a flat 3-3-5

WW Model eyes point 5.

Look for:

a) impulsive wave for Points 4-5 ( connected by internal 5 points )
b) at least 1.121 fib. ext. for 4-5 leg
c) potential RSI h&s




WW is invalidated if 2-4 support line doesn't hold.

Comment

If 2-4 line fails ww geo is invalidated. scenario would be very bearish.
Comments
IamCryptoWolf
ww geo target hit at point 5''- model eyes 470 (level of point 3).
IamCryptoWolf
look for a 61.8 % fib. extension for ww geo 1st target. (point 5).
IamCryptoWolf
Tech-Note:
As btc is heading to ww geo target point 5 (1-3 line) as expected, let's see possible scenarios.

1) point 5 is reached and fails to break above and close above. ww geo target would eye 1-4 line
2)point 5 is broken, btc rallies to point 5'. ww geo target would eye level of point 4.
3) btc rallies to point 5''. ww geo target would eye level of point 3.

IamCryptoWolf
DanV
Nice, looks great.
IamCryptoWolf
so far so good. btc following the ww geo geo. I'm looking for a .414 fib. extension that would complete ww geo in point 5 (blue).
IamCryptoWolf
WW geo Target-1 hit (point 5 red). WW geo Target-2 pending (point 5 blue).
IamCryptoWolf
ww geo targets pending.
kosai19
That's an excellent list of triggers for wolfe waves. I haven't anyone write something like that for this pattern.
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