Dropping until Monday... or longer?
This chart is a combo of 6 exchanges (BFX, STAMP, BTCE, HOUBI, BTCC, KRAKEN) which shows a clearer picture for overall TA... the only drawback is exact pricing is skewed. You'll have to refer back to your exchange's chart to see where it might hit.
According to EW, this is the end of wave 1315. As of this writing, we are now in Wave 132Ab. Wave 1331 should begin sometime Monday or longer if bears get too strong (looking at you STAMP and BTCE). China may or may not start the rally. I don't have a clue on how deep we'll drop, but recent history has shown wave 1131 started around the same price level as .
EW guidelines state wave C will retrace to the vicinity of ... but our Bitcoin has yet to do that on a large scale while in Bull mode. Soooo, I predict at most 23.6% retrace from the top, but more likely A will be lower than C according to Bitcoin rules.. Wave B should top out at half of Wave A, but knowing bitcoin it will look like a double-top which will fuel Bears into shorting (Bear Trap). Then we'll slide down to a whisper of tiny trades until someone decides to buy 1k coins and begin wave 3.
Updated my Momentum ID script by adding an RSI to help combine indicators.
According to EW, this is the end of wave 1315. As of this writing, we are now in Wave 132Ab. Wave 1331 should begin sometime Monday or longer if bears get too strong (looking at you STAMP and BTCE). China may or may not start the rally. I don't have a clue on how deep we'll drop, but recent history has shown wave 1131 started around the same price level as .
EW guidelines state wave C will retrace to the vicinity of ... but our Bitcoin has yet to do that on a large scale while in Bull mode. Soooo, I predict at most 23.6% retrace from the top, but more likely A will be lower than C according to Bitcoin rules.. Wave B should top out at half of Wave A, but knowing bitcoin it will look like a double-top which will fuel Bears into shorting (Bear Trap). Then we'll slide down to a whisper of tiny trades until someone decides to buy 1k coins and begin wave 3.
Updated my Momentum ID script by adding an RSI to help combine indicators.
