Tommy_Trader

What many traders think vs. What I think

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Just like the chart image below, Many traders' TA shows that the corrective wave will reach between 0.382~0.618 fib level which is around $7,200~$7,600. However, you guys know what Bitcoin likes to do these days. It doesn't want to do opposite of what traders say! So here is other possible scenario. We might actually have finished our correction which only retraced 0.238 since bulls are too strong. One of the back up reason for this is that what people think wave b is consisted of 12345 impulsive wave structure so I think it might be our first impulsive wave. But of course if it breaks $7,800, this becomes invalidated.

Apr 14
Comment: I meant to say bitcoin wants to do opposite of what traders say.
Apr 14
Comment:
This is also possible case where wave 5 is truncated.
Apr 15
Comment:
If this count is still valid
Apr 15
Comment:
Here's what i uploaded on korean server. And so far I am quite right.
Apr 15
Comment:
I mean this one
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And yes, the 1 hour ichimoku cloud is showing lower supports, seems that we are having a correction from now.
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Did you take those fibo levels from the weekly chart?
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@Coinamic, i don’t quite get what u r saying. It’s 15m chart which is the timeframe i use for mainly observing the sub-waves.
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Yea I agree - the Bitstamp chart is seeing an ascending triangle on 1 hour chart with RSI reaching apex of a symmetrical triangle
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@tecknit, I should check that out for sure. Thanks for sharing your thoughts and your analysis!
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