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$BTCUSD: 3-in-One | $BTC #BTCe #Bitfinex #Bitstamp #bitcoin

Friends,


SYNTHETIC EXPRESSION:

I decided to focus strictly on the price action of all 3 bitcoin             exchanges, namely:

1 - BTCe
2 - Bitfinex
3 - Bitstamp

I have averaged all three exchanges on an equal-weight basis, such that the current price reflects a synthetic expression of the following:

(BTCe + Bitfinex + Bitstamp ) / 3



Overall, the synthetic product is meant to reflect a price action averaged across these three relatively large exchanges,such that any differential in price action in one might be attenuated as a total movement, since what we are interested is not so much the differential as much as the directional consensus, much like three pets tied on a leash of relatively low elasticity - What matters is the net move.


TECHNICAL ANALYSIS:

There is a lot of information in the chart. While I have erased a lot of the basic technical analysis , I have left what i perceived at pertinent elements.

- TRENDLINES:

There are THREE points at the bottom left of the chart: a, b and c. Points a/b are used to project the thicker dashed bullish trendline , whereas points b/c are used to project the thinner dotted bullish trendline .

What matters here is to see the relative importance of the a/b projection versus that of the b/c projection. Turns out that the a/b projection amasses a higher number of validations than the b/c line. This is not too surprising, since softer trendlines tend to belong to more conservative price action, reflecting longer-term behavioral tendencies from better funded market participants.


- ELLIOTT WAVE:

From the simplest Elliott Wave Principle ("EWP") wave count, I have highlighted TWO critical segments:

1 - The first segment represents an impulse move, declared via the 1-2-3-4-5 points in BLUE. There are certainly several other internal wave counts that could be further defined, but this is where I left the chart in its least confusing rendition.

2 - The segment segment represents a combination of simple series of internal A-B-C as well as complex W-X-Y-XX-Z zig-zag . The more astute wave counter and the type-A Elliotician might have something to ruminate and counter-regurgitate here, but the gist here is to recognize that this protracted segment which emanated from the height at Point-5 represents a complex involution of corrective patterns, pushing price to retrace to ever-more abysmal levels - For the most astute Elliott Wave pattern recon person, see if you can see the development of a LEADING DIAGONAL , with its internal 5-3-5-3-5 pedigree.


- PREDICTIVE/FORECASTING MODEL

... Cont'd ...

David Alcindor
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
08 MAR 2015 - Update:

From Twitter/LinkeIn:
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$BTCUSD composite remains subdued to trendline as forecast; RSI affirms submission of bulls:

snapshot


@tradingview #bitcoin
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snapshot



David Alcindor
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