matthew.khama

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BTCUSD 100% | 25
matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN: RED WAVE 2 IN PROGRESS
1180 2 20
BTCUSD, 240 Short
BITCOIN: RED WAVE 2 IN PROGRESS

At $1075 Bitcoin's wave (2) retraced a Fibonacci 78.6% of wave (1) and promptly fell. $913 is wave 1 (colour red) . Bitcoin is currently in red wave 2 which should complete below $1075 i.e $1075 is our resistance line in the sand and should not be broken upwards. Once wave 2 completes then expect Bitcoin to fall sharply in red wave 3. I'll give targets for wave 3 ...

matthew.khama matthew.khama BTCUSD, W, Short ,
BTCUSD: BITCOIN: BEARISH IN WAVE (3) WITH A TARGET OF $543
410 0 14
BTCUSD, W Short
BITCOIN: BEARISH IN WAVE (3) WITH A TARGET OF $543

Bitcoin rose as we had anticipated in wave (2). Wave (2) ended at about $1075. We are now firmly bearish. Bitcoin should fall in wave (3) with an initial target of $543.

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN MOVE UP IS ABOUT OVER
399 1 5
BTCUSD, 240 Short
BITCOIN MOVE UP IS ABOUT OVER

We are there! Bitcoin has made the minimum retracement required of wave (2). The next wave should be sharp below $1000 soon.

matthew.khama matthew.khama BTCUSD, 240, Long ,
BTCUSD: BITCOIN: RISING IN BLUE WAVE (v) OF [iii]
267 0 1
BTCUSD, 240 Long
BITCOIN: RISING IN BLUE WAVE (v) OF [iii]

Expecting the bitcoin move to $990 soon to complete wave [iii]

matthew.khama matthew.khama BTCUSD, 240, Long ,
BTCUSD: BITCOIN: EXPECTING WAVE [iii] at $990
208 0 2
BTCUSD, 240 Long
BITCOIN: EXPECTING WAVE [iii] at $990

I have added more wave labels to depict the subdivision of wave C. Wave [i] and [ii] are in place. Wave [iii] is developing and I expect bitcoin to rise soon to about $990 level.

matthew.khama matthew.khama BTCUSD, 240, Long ,
BTCUSD: BITCOIN: CLOSEUP LOOK OF WAVES (1) AND (2)
204 0 3
BTCUSD, 240 Long
BITCOIN: CLOSEUP LOOK OF WAVES (1) AND (2)

As can be seen here, bitcoin is rising in wave (2) which should not reach the dashed RED line. That is our line in the sand which, if broken, will require a review of the wave labels. Wave (1) down ended at $810 (the point marked (1) ). Wave (2), which is composed of red-coloured waves A, B and a developing wave C. This wave (2) appears to be forming an expanded ...

matthew.khama matthew.khama BTCUSD, W, Long ,
BTCUSD: BITCOIN WEEKLY: CORRECTING IN WAVE (2)
154 0 3
BTCUSD, W Long
BITCOIN WEEKLY: CORRECTING IN WAVE (2)

As stated in my BITCOIN: BEARISH ON THE MONTHLY CHART analysis, I am bearish long term. However in this Weekly chart, bitcoin is attempting a rally to complete wave (2). I don't expect the dashed RED line to be surpassed to the upside (that would invalidate the wave labels and would require a review of the wave structure). Wave (2) will likely end at $1010 level ...

matthew.khama matthew.khama BTCUSD, M, Short ,
BTCUSD: BITCOIN: BEARISH ON THE MONTHLY CHART
478 6 9
BTCUSD, M Short
BITCOIN: BEARISH ON THE MONTHLY CHART

I have never been convinced that bitcoin can manage a major rally past $1200 before taking out its previous low of $145 (here labelled as wave [A]). Two rallies that bitcoin has attempted since hitting the major low of $145 have ended up being fakes (and crushing several traders at the same time). The recent rally to $1130 appears to have completed wave [B] which ...

matthew.khama matthew.khama BTCUSD, D, Short ,
BTCUSD: BITCOIN: UPSIDE IS LIMITED
375 3 7
BTCUSD, D Short
BITCOIN: UPSIDE IS LIMITED

Expecting bitcoin to rise upto $750s level to complete wave (2) then fall in wave (3). $777 ie part labelled waves (Y) is key to the interpretation and I don't expect bitcoin to rise above it.

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN: 1 HOUR CHART
448 0 2
BTCUSD, 240 Short
BITCOIN: 1 HOUR CHART

1 Hour chart. Wave (i) complete. I expect a small upward retracement for wave (ii) which should not exceed $603.71 then a strong continuation of the fall in wave (iii).

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN FALL IN WAVE 3 OF (3)
103 0 2
BTCUSD, 240 Short
BITCOIN FALL IN WAVE 3 OF (3)

On the 4 Hour Chart below we have a developing wave 3 of (3) which should end somewhere in the $400s.

matthew.khama matthew.khama BTCUSD, D, Short ,
BTCUSD: BITCOIN LONG TERM WAVE STRUCTURE
243 0 3
BTCUSD, D Short
BITCOIN LONG TERM WAVE STRUCTURE

As I've always maintained, I expect bitcoin to fall to below $100 a piece. This chart is the long term one. Bitcoin is falling in wave (3) of { C} of II. Wave {A} is a leading diagonal. Wave {B } is a combination while wave {C } ( fall from 782.12 high, the part labelled (Y) {B} is a developing impulse wave where waves (1) and (2) are complete. If bitcoin reaches ...

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN FALL IN THIRD WAVE
382 1 5
BTCUSD, 240 Short
BITCOIN FALL IN THIRD WAVE

Next Leg down in Bitcoin to below $400 is imminent.

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN: THIRD WAVE DROP TO BELOW $500 IMMINENT
1121 1 7
BTCUSD, 240 Short
BITCOIN: THIRD WAVE DROP TO BELOW $500 IMMINENT

Been tracking the wave two corrections in bitcoin for sometime now. Purple wave 1 appears to be a leading diagonal and its wave 2 is complete just below the 78.6% retracement of wave 1 (i.e below $682). The third wave, tsrong drop is now imminent and should take bitcoin to below $500 and further down soon.

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN: MINOR WAVE 3 IN PROGRESS
268 0 2
BTCUSD, 240 Short
BITCOIN: MINOR WAVE 3 IN PROGRESS

Bitcoin having completed wave (2) at $704 fell to $640 making minor wave 1 (purple colour). Minor wave 2 (purple colour) also appears to be in place at $681. My expectation for a grand fall is still in place. Minor wave 3 (Purple colour) now is targeted at $577 (being a Fibonacci 1.618 times the size of minor wave 1) or $559 (twice wave 1) or $514 (Fibonacci 2.618 ...

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN: SHORT TRADE TO BELOW $100 IN PROGRESS
653 0 4
BTCUSD, 240 Short
BITCOIN: SHORT TRADE TO BELOW $100 IN PROGRESS

As I indicated earlier, my target for wave (2) was the $689 - $699 levels. Bitcoin did touch about $704 level and turned down immediately. Wave (2) therefore appears complete and I now expect a move to below $608 then below $540. You can be short with your SL at $704 and target a move to below $100 soon. I will be updating on the progression of the waves.

matthew.khama matthew.khama BTCUSD, 240, Short ,
BTCUSD: BITCOIN: WAVE (2) IN PROGESS
556 3 8
BTCUSD, 240 Short
BITCOIN: WAVE (2) IN PROGESS

BITCOIN. Expecting wave (2) to end at $689 - $699 then the major drop for wave (3). I will provide targets for wave (3) once I see evidence that wave (2) has ended.

matthew.khama matthew.khama BTCUSD, D, Short ,
BTCUSD: BITCOIN TO FALL TO BELOW $100 SOON
1202 19 3
BTCUSD, D Short
BITCOIN TO FALL TO BELOW $100 SOON

As labelled in the chart, the rise of bitcoin from $149 level is clearly corrective. I therefore expect a strong down-move in bitcoin to below $100 soon.

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