Cryptopile

BITCOIN...Deja Vu...2

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi fellow traders

I have placed an arrow on the oscillator where I can ascertain where we are progressing relative to the the previous wave 4 of the first primary A corrective wave. My fibs I believe are now more accurate and I have placed them over the corresponding waves.

Oscillator wave count showing one more wave down to go.

Elliott wave update. We are currently trading a triangle formation. This can only be a 4 or b corrective wave. Looking at the TA I have indicated it as a wave 4. We can move up to the trend line at around 7300 before starting the final wave 5 down to a target around $5000. It could very well overshoot to 4800. The bigger picture indicates we are inside a descending wedge . The descending wedge is a continuation pattern, therefore I am expecting the bounce of continuation from this level will be significant taking BTC back up.

I have extrapolated the finish of wave 5 around the 19th of April.

Education only, not trading advice.

Chur

Comments

Your chart is almost the same as mine? I don't understand your comment obviously after looking at this.... sorry confused
Reply
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