BTCUSD in a parabolic move
Where are we to look for a possible level for a short**
2227 is my level to look for a possible top for wave 3 in the wave up from wave minor 4.
It's too early to say where this parabolic move will end, but parabolic moves normally end with a sudden burst of the bubble.
One of the few Elliott Wave rules says: The 3rd wave can't be the shortest. That's the reason why I have the alt1 and 2 set in. The 3rd wave is already longer than wave 1 therefore there is no limit for the 5th wave up and therefor the parabolic move could still extend and go much further up and make a blowoff top. But for the time being I look for 2227.
I will track BTCUSD 10.18% ongoing. Stay tuned.
Best to your trading
WALLSTScalper.com
René
Where are we to look for a possible level for a short**
2227 is my level to look for a possible top for wave 3 in the wave up from wave minor 4.
It's too early to say where this parabolic move will end, but parabolic moves normally end with a sudden burst of the bubble.
One of the few Elliott Wave rules says: The 3rd wave can't be the shortest. That's the reason why I have the alt1 and 2 set in. The 3rd wave is already longer than wave 1 therefore there is no limit for the 5th wave up and therefor the parabolic move could still extend and go much further up and make a blowoff top. But for the time being I look for 2227.
I will track BTCUSD 10.18% ongoing. Stay tuned.
Best to your trading
WALLSTScalper.com
René
Comment:
The research for this analysis started back when BTC was 170 dollar lower. But suddenly I was in a hurry posting it - cause 2227 was coming up fast. That resulted in minuette wave 1 and 2 being left wrongly on the chart - I post here the correct and updated chart with corrct count:
Comment:
Continues to build on the 4th wave. On track!
Comment:
New all time high. Caution here could end up being a truncated 5th wave... Nevertheless the pair in consolidation... No massive short yet... Have to take out supporting trend line.
Comment:
A leading diagonal is emerging. Ending the parabolic move up? This could also just be the 1st wave in 5th wave.
Divergens is building on a 60 min chart
Stay tuned
Divergens is building on a 60 min chart
Stay tuned
Comment:
An alternate count - Could break the support line before making the th wave - quite possible - time wil show:
Comment:
Look more and more like the leading diagonal... here latest update: gyazo.com/bd331f007d...ce1e22aae1fe10049676
Comment:
Trade closed: target reached:
Top is in
Order cancelled:
Bitcoin can't be shorted but can be transfer to other assets groups.
Comment:
The chart:
