This is a very short term (VST) outlook for Bitcoin which will give us a general idea of how price is expected to behave over the weekend. Given that we are on the final wave, I imagine that price will be trading within the range as highlighted in the chart with a top near 8488 and a bottom based on the recent low of 8073. All this will be prior to a drop down to 7700 as what I have forecasted in another analysis. Yes, we are back to turtle trading with Bitcoin as price action shifts to alts.
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Hi guys! As you can see, price is slowly grinding to the top. The c was a miscount so ignore that. I got a few messages asking what I meant by turtle trading. It means we only trade when price moves out of the top or bottom range in my chart. That's all. Good luck!
Man, right about the time you published this, I was counting and recounting EW scenarios, trying different things, including something similar to what you have here, but not with a truncated 5.
I finally gave up in exasperation and went to a 3 day Phish concert instead! While there was nothing to invalidate any of my counts... all of them featured something I just didn't like.
I'm curious if you ran into the same thing when you were counting waves here?
Cheers mate... I appreciate your published ideas very much. You remain one of my faves.
twocool
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hi @bibboyne
Interested to ask you why you see end od wave 5 close to the end of wave 3? thanks
twocool
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@bibboyne also i see this wave 5 as an end of wave 3 of the larger scale(time frame) would you agree?
cryptoezvip
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@twocool, also by the looks of it, we could be getting an ending diagonal if price were go back up from here.
cryptoezvip
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@twocool, it doesn't matter now. The market is being manipulated again by whales that throw EW counts off. This is exactly why I said we only trade when price breaks out from the range and it did.
twocool
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@bibboyne, .makes a lot of sense what you are saying... thanks
I finally gave up in exasperation and went to a 3 day Phish concert instead! While there was nothing to invalidate any of my counts... all of them featured something I just didn't like.
I'm curious if you ran into the same thing when you were counting waves here?
Cheers mate... I appreciate your published ideas very much. You remain one of my faves.