user100000
Long

alternate count (wave 3 is done)

BITSTAMP:BTCUSD   Bitcoin / Dollar
179 4 2
it doesn't make sense. market already dropped below wave 1 at 418. that shouldn't happen according to ewp             . this count is probably wrong

unless this whole move from 275 was just a 3 wave up corrective move then it would make sense. if it is a corrective wave then it's done. we go down one more time! hahaahahahaha i hope this is wrong
wonkers_tonky
2 years ago
go to log scale , zoom out to Daily candle.. i think we are in wave 4.. one more up .. wave 5 possibly truncated.. making double topp
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user100000 wonkers_tonky
2 years ago
i hope you are right and still in wave 4 of 3. im tired of this almost 1 year correction!!!!!!!!
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user100000 wonkers_tonky
2 years ago
im going to assume this impulse wave is done. the magnitude of the drop doesn't even compare to wave 2. it is one degree larger wave. and the behaviour after an extended wave 5 is classic. market often snap back to wave ii. that is what happened.
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drei4u
2 years ago
With the advent of bitcoin futures, it's more profitable for traders to short - hence, the long red candles.
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