Hen0xyd

Well defined impulsive waves

BITFINEX:BTCUSD   Bitcoin / Dollar
We saw some big drops occuring in thoses first days of 2015.

The bleeding touched at 255 (April 2013 old ATH             ) and we pretty quickly came back to 275 which is very important price.
275 being at the same time : long-time support for 2014 end, 2014 lowest price, first fib. retracement if we consider $4->$1165 being Wave 3.
Check my previous charts to have better representation (ie.
End of 2014 bear market prediction - using Elliott Waves
)

Looking at waves structures after the drop - using different time granularities - we can see pretty well defined 5-wave impulsive patterns. Also it's currently included in a channel.

$300 would be my max-target for this green 5-wave count (I, II, III             , IV, V).
Most of people are waiting in the sidelines in the meantime, cause we got very few supports after 275 level.
If january '15 early days were the last test of 2014's falling wedge, buying here would have been the best time ; guess that's what we call money-time :)

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