chessnut

Bitcoin - ew opportunities.Count suggests strong support at 640

BITSTAMP:BTCUSD   Bitcoin / Dollar
btc
260 0 2
btc
bitcoin has gifted us with a clear ew count in recent volatility . the pattern is yet to complete, offering us some trade opportunities. Currently wave iv of iii             is clearly unfolding as a triangle (typically), with no impulsive behaviour to the downside within the correction its self. now is the time to go long, aiming for 685 (0.618 projection of wave iii             onto v). Triangles being terminal moves, this could be an opportunity to short at 685. downside is limited as the larger IV wave projection will bottom within the range of iv of one lower fractal , above 640, providing us with yet another buy opportunity in the coming days. and weeks. acceleration of the trend could suggest an exciting alternate count.
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