On April 25th I wrote: "So I still expect a lower lows and I still count this grind up as corrective. Moreover, after b down we should see another rally in c up which will complete wave ( b ) of ( v ). As long as BTC stays under 11,750 I do not have a reason to change my bearish count" Everybody was 100% convinced that BTC had bottomed. So here we are heading...
To call it a bottom we should see a corrective A-B-C down move off the top made in December 2017. So far we can count completed A down and B up. What is important is that wave C has to be structured as five waves down. Out of those five waves we have only got three down where the last low reached a textbook extension for the wave iii down. Then we got a corrective...
I was a bit early to call subwave a of ( b ) of ( v ) complete. However, at this point it looks very completed and I expect a drop from here to 7,400 - 7,050 region before another rally to test round 10,000 resistance
Check latest updates at www castawaytrader com/crude html
We will see here a direct drop in the wave c of -b- down into the target green box
That pullback targets 61.80 - 60.30 My revised count implies that after coming pullback down in the wave ( b ) down of the wave 5 we should see another rally in the wave ( c ) of 5
From here I expect it to drop in wave -b- down
BTC is in a corrective wave ( b ) of ( v ). Waves b are hardly predictable and are very tricky to trade.
Bitcoin has been in a corrective A-B-C move down off the top made in Dec 2017. The last leg of that decline in the wave C down has to be structured as impulsive five wave decline. The wave ( iii ) bottomed at 6,000. The wave ( v ) must make a new low under 6,000. Because the decline off the top of wave ( iv ) up can be counted as five wave down I count is as only...
Gold is in the heart of the wave ( iii ) up
We have been tracking impulsive looking decline off the previous top and count it as the wave A off the low. We expected to see a corrective rally in the wave B up. Today we have got that rally and the structure of the rally is clearly corrective. It is in the final leg up, subwave c of B up. That subwave c should have five waves. So far it has topped in the micro...
this current large wave B down is shaped as triple three structure, which is made of three a-b-c's structure
Bitcoin looks like still not having completed the wave ( III ) of C down. That means that the pullback off the bottom of the wave ( III ) in the wave ( IV ) will be just a temporary relief followed by another a-b-c shaped decline to the new lows in the wave ( V ) of C.
TSLA topped in ( b ) of ( iii ) and might have started decline in accelerated phase down in wave ( c ) of (iii ) off what looks like long lasting top
To complete first five wave move down in a larger wave A, crude still may drop one more time to the green target box It should get over 64.10 to confirm completion of the downside
Bitcoin should top in corrective wave ( b ) up at 7,212 - 7,264 Then I expect another decline shaped as five waves down to the major bottom from where we should see at least a meaningful pullback or a new rally
We nailed the bottoming zone in the wave ( a ) of ( v ) and correctly predicted a strong pullback up in the wave ( b ) up. As long as the top of the wave ( iv ) is not violated I expect another drop to new lows in the area 6,000 - 5,5400. We will be able to narrow it down once the downside structure will present itself.
Crude is completing five wave move down off the top