A 5th wave underway Long

BITSTAMP:BTCUSD60

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jun 8, 2017 4:00 AM

New high 3050+ expected. Stop loss below 2600.
Prehistory and analysis of 4th wave - at Related idea.

Comment

⋅ Jun 9, 2017 4:06 AM

Wave (iii) underway (resistance trendline broken up). Targets 2900, 3000+
Stop below wave (ii) (2700).

Comment

⋅ Jun 10, 2017 10:03 AM

Up or down? Up expected.

Comment

⋅ Jun 10, 2017 6:30 PM

Target 2900 reached. A correction may occur: Long 2835, 2800

Comment

⋅ Jun 12, 2017 2:50 AM

Wave (iii) approaches the target 3000+. There is also a confluence of resistances. Prices are rising under the yellow trendline, so can happen a short-term correction, eg., to 2900.

Comment

⋅ Jun 12, 2017 10:18 AM

Looks like 4th (iv) wave happens now:

Comment

⋅ Jun 12, 2017 12:02 PM

Likely near is the end of the up trend: (i)-(ii)-(iii)-(iv)-(v) structure broken, may be 5th wave completed.

Comments

Like2Move

⋅ Jun 10, 2017 4:31 AM

A chance to re-enter. Stop below wave (ii) (2700).

Like2Move

⋅ Jun 8, 2017 7:23 PM

It is necessary to break through the yellow dashed resistance line:

Like2Move

⋅ Jun 10, 2017 6:53 PM

The resistances 2935 and 3005 ahead. Confluence of resistance 3005 ant wave (iii) movement target.

irishdude5186

⋅ Jun 9, 2017 11:14 AM

Thanks again! Love your work!

Like2Move

⋅ Jun 9, 2017 11:31 AM

@irishdude5186, Thanks, mate :)

Like2Move

⋅ Jun 8, 2017 12:12 PM

A chance jump in on retrace:

Idea invalidates and Stops below 2600.

kenzboard

⋅ Jun 8, 2017 6:34 AM

i believe wave 5 top was 2920

lakmus

⋅ Jun 8, 2017 10:14 AM

@kenzboard, yep