Anarchomania

Anarchomania

With price having already broken down through the corrective channel (minor degree) from the wave IV (cycle) top, now RSI has triggered as well - confirming wave 1 of the intermediate degree is underway. Long term target may realistically lie in the 62 - 65 region.

Anarchomania

reference chart

Anarchomania

Included in reference to idea published as 'Ether...caveat emptor!'

Anarchomania

Note that this is an alternate count: If, and only IF, Ether was to fall below the critical 8.96 mark - currently counted as wave 1 of an impulse - the current wave count would be invalidated (see link to main count below). This would mean an immediate switch in outlook from the current view of being in wave 4 of a 5 wave move to the upside - to being in wave C...

Anarchomania

Alternate wave count (purple): I'm thinking this wave count in silver may need adjusting....ie. reducing the current red circled waves by 1 degree. This would turn the current wave 5 (red circled) into wave 3 (purple circle), leaving it with the need to trace out a 4th and 5th (purple) before completing the down correction, which would ultimately represent the...

Anarchomania

The impulsive wave C seems to have a bit to go before we can call a wave 2 bottom in gold. I'm looking for a completion of the expanded flat ABC (circled) somewhere in the box between $1193 - $1165.

Anarchomania

Silver seems to be approaching the target low somewhere in the 15.90 - 16.15 region. This would be the textbook level of the previous 4th in one lesser degree, also at or near the 0.618 level. Gold still seems to have a way to go but may complete it's pull back more impulsively, while silver may bumble around a bit in its final 5th wave - since it seems to be...

Anarchomania

This rally is difficult to count. Overall it can't (yet) be called impulsive, so I suspect it's wave B of a correction. My best guess so far on counting it seems to be to call the move from the A wave low a double zig zag with the final (?) C wave being an ending diagonal. I would expect the 5th wave of the diagonal to throw over the top of the pattern slightly -...

Anarchomania

Get ready for a major thrust from a low of around 375...

Anarchomania

I can't bring myself (yet) to see the correction as complete - having not even made it to the 0.382 mark. I'm therefore counting this tentatively as an expanded flat, looking for c (circled) to move to about 16.28 (wave a x 1.618)

Anarchomania

I can count 5 waves down for wave a, but if this moves turns out to be a zig zag I would expect a three wave move to the upside followed by another five down to complete the abc structure in subminuette degree. The waves shown in pink are one possible scenario measuring b = a x 0.786 and c = a for a fairly standard zig zag. Once the correction is complete we...

Anarchomania

Currently tracing out wave 3 of (5) - heading toward the target low of around 5.63. I would expect this to be the end of the corrective pattern and look to get bullish after that.

Anarchomania

Expecting a wave 4 low around 1193 and then on to a new high to complete wave 1 of the primary trend.

Anarchomania

If/when the channel breaks on the downside, wave 5 should proceed to the previous target of around 5.75

Anarchomania

Ok the headline was just to get some attention...but seriously...when was the last time you saw an idea published on Bitcoin that wasn't simply regurgitating the same old permabull war cry over a 'bullish breakout'? And...from an isolated 2nd wave triangle no less (which are about as rare as dinosaur feathers by the way). Anyway, while I'm not necessarily...

Anarchomania

Once triangle completes, downside target still on track in the 5.75 to 5.35 range.

Anarchomania

Looks like the triangle count has been invalidated by the breach of the previous low. Now it fits the idea of a double three (in the form of a zig zag and a flat). Not much change to the downside target though....around 7.50.

Anarchomania

See related links for rationale behind forecast.