Short

# Resistance At Geo's Rule #2; Bears Eye 170.70 | #bitcoin \$BTC

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
7945 43
SYNOPSIS:

A long silence here on \$BTC #BitStamp, as the Geo             completes an imperfect 5-prime (see parallel lines validation at 5') - Per Geo's Off-Set Rule #2, this 5-prime definition called for a rally with a HIGH probability target corresponding to the price level of Point-4. Turns out, this is exactly what price did, as it rallied from 5' but failed to continue its ascent above the price level of Point-4 - See light PINK range in the following chart:

GEO             CONSTRUCTION:

For the adept in Geo             , look for a near perfect construction, where 1-2 Leg represents a reciprocal ab = cd symmetry, the 2-3 Leg represents a complex Elliott Wave (EW) ZZ, the 3-4 Leg represents a simple EW ZZ, and price departs from the validation of the Geo's 1-3 Line.

GEO's OFF-SET RULE:

As a reminder, the Geo's Off-Set Rule represent a geometric             compensation where distortion of price along the 1-3 and 2-4 Line will tend to displace the high probability target, such that:

Off-Set Rule #1 - If price rallies from Point-5, the HIGH probability target lies along the 1-4 Line (same as Wolfe Wave target);

Off-Set Rule #2 - If price rallies from Point-5', the HIGH probability target lies at the price level corresponding to Point-4 (as was the case in this example);

AND

Off-Set Rule #3 - If price rallies from Point-5'', the HIGH probability target lies at the price level corresponding to Point-3.

NOTE that the relative incidence of these rules are such that:

Off-Set Rule #2 > Off-Set Rule #1 >>> Off-Set Rule #3

PREDICTIVE/FORECASTING MODEL:

Aside from this background geometry, the Predictive/Forecasting Model offers the two following high-probability target:

1 - TG-1 = 266.41 - 09 FEB 2016

AND

2 - TG-Lox = 170.70 - 09 FEB 2016

INVALIDATION:

The higher target that were defined last November remain unattainable at this point, based on the interdicting nature of the Geo's Off-Set Rule #2, whereby price remains subordinate to the Geo's 1-4 Line. However, invalidation of this rule should occur IF price BACA > 1-4 Line (RED arrows), in which case, bearish target would also become invalid.

OVERALL:

Bearish outlook based on background Geo's rule and supported by Predictive/Forecasting Model's bearish target - Invalidation depends upon price breaching above the 1-4 Line.

Best,

David Alcindor
Predictive Analysis & Forecasting

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Comment: 09 FEB 2016 - ADDENDUM:

In the case of an adverse excursion (here, we are referring to a rally), consider \$502 a reasonable threshold for bear to worry:

Best,

David Alcindor
Comment: 13 FEB 2016 - Chart Update / Tech-Note:

Watch for possibility of price carving a higher high, now that it appears to consolidate at the above 388.58 resistance level:

Watch for the WW/Geo completion here.

Best,

David Alcindor
Comment: 13 FEB 2016 - ADDENDUM:

BLACK Geo completes at 5 versus BLUE Geo completing at 5':

Another intermediate geo also completed at the current price level - Price is being pressured down. If price breaks > 392.00, then bulls got out of this sticky tar pit.

David

David
Comment: 13 FEB 2016 - ADDENDUM:

Adding structural top level at 391.88 and WL at 393.88:

David Alcindor
Comment: Typo: WL = 398.99 (not 393.88):

David Alcindor
Comment: 16 FEB 2016 - Chart Update / Tech-Note:

Watch for this 1.618-Fib retracement on M15x4 timeframe since WL failure:

Would correspond to 0.386-Fib retracement and structural support.

Best,

David Alcindor
Comment: 25 MAY 2016 - Chart Update / Tech-Note:

502 may represent a make or brake in this DAILY chart - Look for this developing geometry ... Staying off of lower timeframes:

Best,

David Alcindor
Comment: 05 JUN 2016 - Chart Update / Tech-Note:

Analysis had to occur at the WEEKLY level, but most recent targets remain intact:

Look for the potential development of a WW/Geo, with Point-3 possibly occurring in the area defined by the 591/647 zone.

Best,

David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Comment: 07 JUN 2016 - Chart Update / Tech-Note:

Speculative play in #bitcoin:

Best,

David Alcindor
Comment: 07 JUN 2016 - Chart Update / Tech-Note:

Friends,

Using the chart I posted recently, here is how the WW/Geo would fit in the speculative price pathway:

Best,

David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Comment: 07 JUN 2016 - Addendeum:

Potential reciprocal ab = cd symmetry development, approximates targets:

Best,

David Alcindor, CMT Affiliate #227974
Comment: 11 JUN 2016 - Chart Update / Tech-Note:

Price hit 612.96 target. As per WEEKLY forecast, expecting slight retracement, likely towards the 502 structural support:

Best,

David Alcindor
Comment: 17 JAN 2016 - Chart Update / Tech-Note:

Bears reached a nosebleed WL level defined in the Weekly chart as a make-or-break level (i.e.: having to convert to a Monthly level analysis if price closed the week above that level).

However, a reversal pattern may be forming, looking at a potential H&S with internal bearish impulse now pointing:

Looking at the H1 level, a soft support exists at the 686.56/676.80 range, with potential decline below to the 470.02 (502 in the Weekly chart, although this level of refinement can only be confirmed if and once price follows a bearish downward course, as forecast in the Weekly chart.

Have a wonderful weekend,

David Alcindor, CMT Affiliate #227974
Comment: 18 JUN 2016 - Chart Update / Tech-Note:

Watch out for this potential bearish pathway:

David Alcindor
Comment: 18 JUN 2016 - Chart Update:

Double-topped; Bears remain in charge:

David
Comment: 20 JUN 2016 - Chart Update / Tech-Note:

Look for these successive levels of support:

\$BTCUSD/Bitstamp - M15:

\$BTCUSD/Bitstamp - H1:

Best,

David Alcindor
Comment: 20 JUN 2016 - Chart update:

Break of this support may fashion the ominous H&S:

Best,

David Alcindor, CMT Affiliate #227974
Comment: 20 JUN 2016 - Chart Update:

Price hit the 706 level ... Bears pressing on:

Best,

David
Comment: 20 JUN 2016 - Chart Update:

Price stomped at neckline range, ... Defines a higher-probability H&S pattern ... Bearish:

Best,

David Alcindor
Comment: 21 JUN 2016 - Chart Update;

First, happy first day of summer!

Second: Bears remain in force, as price continues to decline from the forecast WL and follows the bearish forecast:

Best,

David Alcindor
Comment: 22 JUN 2016 - Chart Update / Tech-Note:

Price cleared the forecast 686/676 range, fell and now tests the presumed H&S neckline - Per H1 Model, look for a support at the 559.95 level at this timeframe, whereas bears remain the dominant force in the longer frames:

David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Comment: 22 JUN 2016 - Chart Update / Tech-Note:

Price fell as forecast, hitting lower numerical target, TG-1 = 559.95:

At this point, as per TG-1 nature, expect a retracement (as opposed to reversal seen in qualitative targets), up to, but unlikely above the 676/686 range, which represents to prior target.

Best,

David Alcindor, CM Affiliate #227974
Comment: 22 JUN 2016 - Chart Update / Tech-Note:

Remember this overall WEEKLY chart:

Best,

David Alcindor, CMT Affiliate #227974
Comment: 23 JUN 2016 - Chart Update:

Retracement target range of 686/676 was hit, as per dashed forecast line:

David Alcindorr, CMT Affiliate #227974
Comment: 24 JUN 2016 - Chart Update / Tech-Note:

As forecast, price is retracting from overhead target zone, following a sustained ascent after hitting lower target - Outlook remains bearish:

Look for a breach and sustained, impulsive move above the prior target-hit at 759.09 for an invalidation of current predictive analysis and forecast.

Best,

David Alcindor, CMT #227974
Comment: 24 JUN 2016 - Chart Update:

As price continues to follow the dashed arrow pathway closely, here is some refinement of the predictive analysis:

1 - Price is likely to break above 683.88 - By doing so, bulls are fighting an uphill battle, meeting significant resistance at the 714.01 level, and likely being stomped with probable reversal at the 744.15 level.
2 - Invalidation of reversal scenario would occur if price BACA > 778.85
3 - Bearish forecast remains intact and in force, as per recently posted WEEKLY chart.

Best,

David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Comment: 25 JUN 2016 - Chart Update:

Price remains under the 683.88 handle; Still, expecting a limited upside move in the 714/744 range:

Best,

David Alcindor
Comment: 26 JUN 2016 - Chart Update / Tech-Note:

Bulls were not able to push back to expected level shown; Now carving lower-low - Bearish tack remains intact and in force:

Best,

David Alcindor
Comment: 26 JUN 2016 - Chart Update / Tech-Note:

Bulls are pushing back. If price BACA > 683.88, then consider 744.15 a high-probability reversal level at this lower timeframe - Still, larger TF remains bearish with lower lows eyes:

David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Comment: 30 JUN 2016 - Chart Update:

If price BACA > 683, then 144 remains the next probable highest target:

David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster
Comment: 02 JULY 2016 - Chart Update / Tech-Note:

Price broke through 683.88 ... Look for significant bearish entrenchment in the 714.01/744.15 range:

David Alcindor, CMT Affiliate #227974
Comment: 02 AUG 2016 - Chart Update / Tech-Note:

Price carves lower-lows, opens to bearish targets: 502.00 is probable, 309 remains possible:

Regards,

David Alcindor, CMT Affiliate #227974
Comment: 02 AUG 2016 - Chart Update:

Price hit forecast 502 level:

CROW Code students, look for CROW cycle completion at failure following Tail completion

David Alcindor, CMT Affiliate #227974
Comment: 06 AUG 2016 - Chart Update / Tech-Note:

Watch for these two levels:

1 - Resistance at 645.00

AND

2 - Support at 245.16

Regards,

David Alcindor, CMT Affiliate #227974
Comment: 17 AUG 2016 - Chart Update / Tech-Note:

High-probability reversal at the 145/666 range ... Watch for 660.02:

Best,

David Alcindor, CMT Affiliate #227974
Comment: 04 NOV 2016 - Announcement:

Predictive Analysis/Forecasting of Composite \$BTC WEEKLY chart released (BTCe + BitStamp + BitFinex)

David Alcindor
CMT Affiliate #227974
Alias: 4xForecaster
- Check #CROWSignalService on Twitter for recent performance
Hi David! You've just nailed that mate :)
thanks for the update David can u plz explain what r u implying with " 145/666 range ... Watch for 660.02"
and can u plz look into LTCBTC ratio and LTC USD for BTC-E exchange
both seem to form a bottom ( or should I say a double bottom around 0.006 and 3.22 respectively)
I remember when u posted an update for LTC before it was very helpful kind regards :)
thanks ...
noto1235
oh I understand about BTC analysis now ...kindly update LTC too thanks
noto1235
Hello @noto1235 - Thank you for your query and kind compliments. Because of the demand, I have since responded to specific request by providing a paid service. Feel free to contact me by PM if you have any specific request on a chart, exchange, timeframe. Feel free also to share your chart, or if you feel confident, let me review your position. My analyses are based on quantitative data using fractal events within non-price fields - It is called CROW Code (CROW stands for Constant Rescaling Of Wavelets, where wavelets are simply fractal manifestations that allows the method to define direction and strength of the underlying market - that's the predictive analysis part - as well as extent of price move - that's the forecasting part of the analysis. Feel free to check recent performance using the #CROWSignalService hashtag on Twitter.

Thank you,

David Alcindor
Alias: 4xForecaster
Hi David,

Thank you for the update.

Do you expect at the 660.02 level a REVERSAL or RETRACEMENT, because I remember from your methodology that the yellow color indicates that the probability of getting hit is intermediate, and if hit, it will likely cause a temporary RERACEMENT in the order of 0.382 to 0.618.

So, is the 660.02 level a TG-1, a QUANT-Target to define future R/S levels, or a QUAL-target (i.e.: TG-Hi or TG-Lo)?

I'm a little confused because you talk about a REVERSAL ("High-probability reversal at the 645/666 range ... Watch for 660.02") but use the color yellow here in the chart.

Thank you, David.

eYou1
Hello @eYou1 - This is a high-probability reversal. I did not define the target but only the probable value within the BLUE 645/666 range. This range represents a high-probability reversal area.

David
4xForecaster
Something like this, David?

eYou1
@eYou1 - Look for these potential internal waves:

5-3-5 count within the COR segment, correcting from a recent IMP:

David
4xForecaster
Thank you David for this chart. I understand. Kind regards.
4xForecaster
Hi David,any update ?
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