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EW

Were to now????Over the last few weeks of china banning icos and btc exchanges and good old jamie dimon shitting on btc the overall market sentiment has been bearish playing into elliot wave theory as we abc down on wave 4. AS of the 9/22 wave three has started in my opinion and we have rushed forward without much resistance. Being the 3rd wave it is met with lots of price action and volume which is great for us traders. However i believe wave three is about to end soon. According to Elliot wave guidelines Wave 3 = either 1.62 x length of Wave 1, 2.62 x length of Wave 1 or 4.25 x length of Wave 1. Given the circumstance i believe 1.62x of wave one is the most likely place to stop at 4862. Given this guideline we can then have a better idea of were wave 4 will head before we enter wave 5. If you are not in a trade yet i would highly recommend waiting for the beginning of wave 5 at around 4315 however this is a target with the most probability that is all. As traders we try and give ourselves a edge over everybody else so we can take money out of the markets and profit.
KRAKEN:BTCUSDLong
by Kiwi_Trades
BTC wants a 5th waveAfter a impulsive move down BTC overextended and bulls bought it back up immediately. 3875 resistance which is also the bottom of wave 1 was rejected. This means that another wave down is likely. However, fifth waves can be shorter and a double bottom or a higher bottom is possible (truncated fifth). My first target is the bottom of the parallel channel & the .61 fib retracement of the leg up. I will be closing half of my position here. If BTC overreacts again the 5th wave could go extended but with all the buying pressure below the channel i dont see that happening very often. Other possibilities is that we just finished the ABC correction and this is our leg 1 up with more up to come, but i find it difficult to make this scenario work in the current price action. Another possibility is that the surge upwards was a X leg, which happens inbetween complex corrections. after this usually follows either a triangle or another ABC taking us even lower. The X leg can go to up to 4220 before initiating the next correction. My stop loss is above this level.
BITFINEX:BTCUSDShort
by RegideTrader
BTC harmonic wave trend clear !looking at price action at the last bullish wave , made me suspicious of this market , and why this impulsive trend ended up early having thought about that , i had to look it up all over again but with more options to analyse this trend the final conclusion that i came up with is that this trend keeps making an ABC - up and ABC down over and over which resembles a harmonic trend wave and now the market seems to be doing an ABC down to make the wave (ii) before making Another ABC up , which is going to be the most powerful trend yet so far in BTC as wave (iii) i will be taking this bearish trend step by step on a lower time frame , to get the profit that we need ! follow like , and comment
BITSTAMP:BTCUSDShort
by Cruddest