4xForecaster
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$BTC Completes WW/Geo; Eyes Bearish Targets | #bitcoin #bitstamp

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Friends,

Look for this high-probability 1-4 Line validation as this Wolfe Wave/Geo completes, combined with a Fibonacci contraction levels one might consider using as supportive target definition:





David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA


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18 SEP 2015 - Chart Update:


Price remains subdued under price level corresponding to Point-3; Testing upside is possible but limited; Remains bearish overall:





David Alcindor
+4 Reply
ucdos1988 4xForecaster
good job
Reply
devlspawn 4xForecaster
Hey David, is this your latest chart on Bitcoin or am I just missing it?
Reply
10 SEP 2015 - Chart Update:


Watch for this potential WW/Geo - Bearish trench remains in force overhead (pink down-arrow)




David Alcindor
+3 Reply
4xForecaster 4xForecaster
ADDENDUM - Tech-Note:

Remember that IF we are dealing with a Geo, then there are certain internal geometric requirements that have to be met, one of which is a complex 3-4 Leg construction, such that two swings are TYPICALLY connected by an intermediate ZZ - See chart:




This would thus force the replacement of Point-5 into Point-3, and Point-5 would rest further up there, near the Bearish entrenchment that was pre-defined - This is one of the contingencies we have discussed in a recent chart ($SEK or $NOK, I believe).

Best,


David Alcindor
+2 Reply
BitProf 4xForecaster
Target hit at 225. Amazing job again, David. Oddly enough, none of the other exchanges touched the target, not even btce, which hovered just above at 226.03
+1 Reply
09 SEP 2015 - Chart Update:

At this M15 level, failure to rally above this bearish entrenchment (pink arrow-down) would maintain validation of original target - Lots of bull/bear fighting going on at these levels, so price consolidation and time-consumptive geometries are expected in this environment - The larger timeframe is what I rely upon to base the bull/bear bias, as the Predictive/Forecasting Model is calibrated for H4 level. This "Model" remains bearish for the time being:





David Alcindor
+5 Reply
07 SEP 2015 - Chart Update:





David Alcindor
+3 Reply
BitProf 4xForecaster
Hi David, Would you say that the bearish butterfly is invalidated now?
+1 Reply
Yes, I would have been kicked out of position by now for sure.

David
+2 Reply
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