We have got the first confirmation of the final drop in wave c of ii down I have been waiting for. We have got the first wave i down. That final wave c of ii down should be subdivided into five waves. And so far we have got wave i down and wave ii up. The next move may be a sharp drop in wave iii to 3,840 or even lower.
At this point I am clarifying my target for...
It is very difficult to find an impulsive count of the move up off the late February low.
I tend to count it as a complex w-x-y corrective wave b up of ii down.
I still expect the final drop to 3,650 in wave c of ii.
That drop would set a stage for another rally that would break out over 4,000.
On 4 March 2019 I predicted a rally to 4,000.https://www.tradingview.com/chart/BTCUSD/FMckCeSj-BTC-corrective-rally-is-over-prepare-for-a-dive/ That rally was supposed to complete a corrective wave b up of ii down.
Bitcoin hit 4,045 on 9 March 2019 and since then kept grinding lower. My expectations are unchanged, I expect Bitcoin to drop in a strong scary...
As I predicted on 4 March 2019, Bitcoin rallied in a corrective wave b up of ii down.
And I warned back then that the rally would be a corrective and would follow by another plunge.
So this time has come. The minimum high probability target for the drop is 3,610.
That drop would finalize a-b-c correction after the previous strong rally in wave i up and would set...
In my previous update posted on 24 Feb 2019 I wrote:
"This current drop into 3,820 is clearly only the first leg down in wave a of ii.
Despite the fact we should get a corrective wave b up and that could get as high as the previous top over 4,000 I would encourage you not to take your chances and wait for a corrective wave b up to top and then you may try to...
In my last update on February 19 I warned bulls:
"Today, after 30% quick gain off the bottom I want you to cool down. I am still bullish on Bitcoin .
But we got wave i up of a larger wave ( c ) up. We may get now a pretty deep corrective wave ii down targeting 3,600. "
I count a-b-c move up that topped around 4,280 this night as a completed wave i up off the...
On 8 February 2019 I showed you a bullish declining wedge and announced an upcoming rally.
On 14 February I showed you another bullish wedge and said that we gonna get rally to 4,000.
Today, after 30% quick gain off the bottom I want you to cool down. I am still bullish on Bitcoin.
But we got wave i up of a larger wave ( c ) up. We may get now a pretty deep...
Bitcoin has been consolidated after a spike in a bullish descending flag.
It may stretch lower all the way to 3,580 to retest from above the critical resistance I outlined for the breakout.
The next rally should target at least 4,000
My count has not changed. I count that decline off the top at 4,368 made in December 2018 as the top of wave ( a ) up off the low at 3,217.
Not only that corrective wave ( b ) down has a fully completed structure but it also looks like a falling wedge, an easily recognized technical pattern likened by many traders.
At this point I lower the critical resistance...
Bitcoin ignored a great micro long setup and dropped to 3,422 instead.
It re-entered into my green target box and finally let me bought another tranche of GBTC under $4.00. Now I have 80% of my full long position
At this point the first signal of a new rally would be a break out through 3,660 resistance.
I count the spike to the low of 3,462 into my green target box on 22 Jan 2019 as the low of the corrective wave ( b ) of ( i ). That implied we have started a rally in wave ( c ) of ( i ) up. That wave ( c ) should be subdivided into five waves of smaller degree. We might have completed wave i up with a spike up to 3,750 on 26 Jan 2019.
We can get a great long...
On 13 January 2019 I posted a chart with a green target box where a corrective wave b down should land. That target box was located in between 3,529-3,427-3,380.
During the following two days Bitcoin could drop only to 3,570 and then jumped. Then in my update on 19 January 2019 I concluded that even though it did not tag my target area that jump off the last low...