Alexander_Nikitin
Short

bitcoin pattern. further analysis

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Although move 3 became extended it doesn't ruin the patterns rules. I am still looking at a move 4 to test the 1 for the pattern to complete. Move 5 is typically a double top/bottom. I also found an ab=cd pattern confluence at the zone.
Comment: now move 4 is in progress. level 1 is almost touched.
This pattern was found by the MPS-v5.5 pattern recognition software: https://mps-trade.com

My YouTube channel: https://www.youtube.com/user/alexniquitos/
Again a huge warning to all who look at TA here. Honestly no one can predict a price move up or down.
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@leokim, it's true. that's why nobody bets all in. But on the other hand history gives clues about some patterns that have a statistical probability. it gives an edge to a trader.
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It remains exciting. BTC flees to the top, but is there still plenty of room?
I say it's the daily MA38 (which may look like a parabola) that is crucial. It is the border line between doom and glory.
If BTC falls below it it's damned, but if it manages to stay above it's spared.
Just how much longer can this chase go on? I feel like the decision is closing in ;-)
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Maybe forming a bearish bat :P
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@stefangel90, well, obviously it didn't reverse at level 5 as it should be. I think it's a bullish sign.
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Bitcoin about to break another resistance. After this one aiming for $8,330

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@CopilotThe, this also may happen.
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Thank you for the wave training
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Alexander_Nikitin Tradingstrategyguides
@Tradingstrategyguides, my pleasure.
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