tharkness

tharkness

The bearish downward trending channel in dark grey has been respected throughout this correction. The top of the channel has been a hard resistance for the upward move. When looking at the 1 hr and 4 hr charts a wave pattern is seen that appears to be the WXYXZ formation. Each wave is made up of complex 3 or 5 wave moves. The WXY AND X waves are now complete....

tharkness Updated 

As I was wrestling with the movement of BTC, I noticed that a standard Correction of a "Double Three" is setting up. That is to say ... a regular flat + any 3 + an ABCDE Constricting Triangle. A regular flat is a 3-3-5 combo ... so a "down-up-down" wave, combined with an "up-down-up" correcting wave, combined with a 5 cycle down wave. And we saw exactly that!...

tharkness Updated 

Short Term : We have a potential Head and Shoulder formation that seems to just be finishing. It is approaching the neckline and looks like it may break above. If it breaks the 10,600 range we may see a run all the way up to 12,200+. A breakout above H&S is usually the same as the height of the neckline to top of head - which is 1,700 points. So 10,600+1700=12,300...

tharkness Updated 

The pattern of BTC is at a crossroads. It may be completing the 4th wave of a 5 wave Y leg. The 5th leg should fall to the 8600 area. It will then have completed a corrective pullback and will then be ready for a bull impulse. If it continues up and closes above 10925 it may be extending all the way up to the descending line at 12,200 it will have completed the D...