Retrace wave 2 was very shallow and in contrast (like textbook) number 4 was sharp. How far number 5 (third impulse) will go... we'll see..
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as long as it stays above 3800 (the top of wave 1) the idea stays valid want to see a double or higher top - $ 4283 or more
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Candle-wise we're still (just) good, wick-wise (or under 1hr timeframe) it would be invalidated. But since it seems to try to get up again, i give it the advantage of reasonable doubt for now
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or the benefit of the doubt..(wink)
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Hang in there kitty .. Not quite there yet ... One more push ...
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well .. it failed to get past 4160 @ 16-21 march Elliot-waves are a nice captain hindsight indicator, hard to predict - easy to spot after .. since the timeframe is getting to large imo (wave4 too big for my taste) for a retry to breach the feb.24 high (which was really ugly -thin) i'll take it we have started C corrective wave already. should get us around 36-3700 area (bitfinex)
it could of course still jump up but it looks to me as if we are about to draw a lot of lower-lows
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Seems to be trying to get wave 5 after all
Double top or is it going to go for the 4500-4800 ?
@Je_Buurman, ah..never mind.. had to zoom in on bitstamp... jan.29 was indeed lower there than feb.6
it was the opposite on bitfinex
deactivatedaccount123
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@Je_Buurman, I was gonna say, it's hard to see and you have to zoom in on Bitstamp in order to see it.
But yes, it lines up with fib extensions and all. I think we're going to have a huge rally here soon. Like, really huge.
Je_Buurman
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@MC_Peewee, very possible yes. IF we manage to break two/three resistances and manage to get above 4600/5000 then all downtrends/channels are definitely broken, which could lead to a major bullrun ... but then again .. it's an awfull lot of if's :( (see also my other idea on important key area's attached to this one)
I'm pretty sure it will happen ... when .. is the question
Boon2
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It's looking pretty bearish to me. BTCUSD H4 Update, Z down? Checkout the idea detail's and update's for the complete picture.
Je_Buurman
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@Boon2, Here's a little fun-fact. Right out of the FAQ:
*Don't chart-spam (posting the same chart over and over again without any changes).
How about you stop doing that in just about everyones idea's ?!
Boon2
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@Je_Buurman, what dont you like your analysis debated? I guess not and I can see why LOL
Je_Buurman
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@Boon2, you are spamming your charts everywhere, that is not debating. anyone who checks your comments can see that. Reported
This is the way I see it.
If we hold the 50%, or at least above the 786 Fib, we're beginning wave 3 of the larger degree.
6k here we come ;)