ferGOD
Long

Bitcoin - ABC Correction - The market, it's math!

BITMEX:XBT   Bitcoin / US Dollar Index
BTC is reaching a key point of support and Fibonacci level. A significant bounce would be expected at the end of Wave C and Wave 5 anywhere between $9 - $9.1K (1.272%) After that counter-rally it will be time to re-evaluate to see if the major correction is over, or if this is just a breather before further down side. ($7K-8K range) A 40% total correction is down around the 1.618 Fib on this chart for a percentage reference. Also for a point of reference, those two blue boxes are exactly the same height showing the symmetry of this latest move ( AB=CD - ascending broadening wedge ). The highlighted channel I put on the chart looks very much LARGE bull flag does in not? (something to keep in mind) Long term I am still extremely bullish , short term we still have to feed the bears a little poisoned meat to occupy them so we can circle around the path and continue up this mountain. A 4 Hour view of the same chart. The current price action looks like it wants to head to the lower Fibonacci line

The market is sovereign
The market is antagonistic
The market is not find
The market will devour you
The market will teach you
The market will hit you.
The market does not forgive the novices
The market will lead to your soul

STUDY! This is MATHEMATICS!
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God is with me always
All going as planned.
The target? THE MOON!
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For those of you following my posts you know there was a lot of concern about the last major wave holding around $9K. Not only did it hold, it turned for wave 3 and a $1K plus jump. The question right now is did we just finish Wave 3 or was that the end of a Wave C ?

If the prices turns here at the .23 Fib or more likely the .38 Fib and goes North again that is a solid confirmation the prior move was a Wave 3, and this move down is Wave 4, and we still have wave 5 North to go.

If prices go down from here then what we thought was is a 12345 move (shown on the chart in blue) is actually an ABC move and we just finished wave C and prices are coming back down.

I do not think this is the case. I am very confident we are seeing wave 4 right now and heading higher later today. After wave 5 is complete, we wills see some sort of ABC correction at that point. That's not a guarantee, just my personal opinion based on the FIbs and the previous price action. So the short answer? We may see prices dip to around $10.1K this morning to complete the end of wave 4 and then go up for Wave 5. That is my best fortune telling prediction from what I currently see on the chart.
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For clarity, I have drawn and ABC count on the chart showing the down direction the price would follow if this was true. I do not currently believe this is the count. I think we are in the dark blue 12345 count I have previously drawn. If the price breaks significantly below the .38 Fib then the ABC count may become more valid. If that does not happen, I am sticking to the 12345 count upward. A 1 hour view of how this might play out if the 12345 count is correct.
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Bitcoin not can break 11,080 with conviction we should be off to the races! Come on Bulls! If the bulls are not going to break higher than the 50% Fib right now, then something like this could play out next. Just posting this chart to see if it plays out.
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Is this the count? I think so....
There is a good possibility we are done here with the ABC and may start working our way back up. Which makes sense because we really need to close this week over 10.4 or better to keep things positive going into next week.
Or this will just turn into one big wave 4 and we will still seek out the 50% Fib. Hard to say for sure. Obviously if we break higher into the previous wave structure then this was it.
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As I suspected, the 78.6% Fibonacci is definitely on the table!!! Of course for this to be the turn we need to start breaking the Fibo in the Northern direction......
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HEY DUDE! diamond bottom in formation keep Calm. It's perfectly running as planned. Fibo was respected.
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Ok DUDES. Patience and calmness is the key to success in the MARKET. We are doing well Let's go up!
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Now that we have clearly finished wave 5 of the previous move we are on Wave 1 of the current move. Wave 2 will often retrace as far down as the 61.8 or 78.6 Fib level of Wave 1
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PANORAMIC

There is no certainty in the market. These are expectations!
The price goes where he wants to go. The market is sovereign just like God! We are not sure how long we will live. The price is like this. Odds. Expectations

Thank you
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LONG!

Corrected wave 1 at FIBO 76.8%! Now let's start climbing.
Creating wave 3 of wave 3 of this Fractal.
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Good morning everyone!
We follow the main trend.The Dow Theory is in intacta an upward advances above a previous important high, accompanied or followed by a similar. Time Frame (Diario / Semanal) Intraday is noisy. Forget the noise. Here professionals and robots (AI) keep the trend.

Follows my vision for the short term. I'm totally bullish
I always mention patience is the key to success in the markets. Keep focus. Big money is here at PRIMARY TREND. Have a plan and follow it always.

God be with us today and always. Praised be the Lord my God!
Comment:

It remains valid so long and the price does not break below and invalidates the count. If it does break below then my expectation would be to complete a larger 3 wave ABC down and start the new 5 wave count up from there. Unless and until this count gets violated I'm sticking with it. A 1 hour view of the current price action from the same chart above. It is quite incredible how the waves keep hitting their marks. I'm not saying I'm always counting it correctly, but there is no denying the patterns keep repeating according to the numbers.

*** STOP LOSS (9.499.99)

Good luck

God above all!
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I was looking for the Bitcoin price to bounce off the Fibo and start a move higher. Although it did break the Fibo 78.6% the price quite made it down to the From Wave count. The price continues down to the start of the previous count creating a double bottom and complete Wave 5. Now that we have clearly finished wave 5 of the previous move correction We started a new 5 wave count to the north We finished wave 1 (78.6%) we are on Wave 2 of the current move. Wave 2 will often retrace as far down as the 61.8 or 78.6 Fib level of Wave 1. As you can see on this chart it looks like Wave 1 has topped out just over $10K and is pulling back to put in the bottom of Wave 2.

This is my current hypothesis. It remains valid so long and the price does not break below and invalidates the count. If it does break below then my expectation would be to complete a larger 3 wave ABC down and start count up from there. Unless and until this count gets violated I'm sticking with it.
bravo <3
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well said bro
+1 Reply
ferGOD HamadaMark
@HamadaMark, I do not understand brother I'm Brazilian lmao
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