user100000

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Markets Allocation
95 % cryptocurrency 0 % forex 0 % commodities 4 % other
Top Mentioned Symbols
BITSTAMP:BTCUSD 77% | 430 BTCCNY 10% | 61 BITFINEX:BTCUSD 5% | 31 XAUUSD 4% | 23
user100000 user100000 BTCUSD, 60, Long ,
BTCUSD: zigzag correction 1h
116 0 4
BTCUSD, 60 Long
zigzag correction 1h

that was a classic zigzag correction. wave A = B typically (a)=(c) in this case too

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: Wave 5
337 5 6
BTCUSD, D Long
Wave 5

just want to point out there was a missing wave in this impulse wave. it is finally showing up after a month of correction.

user100000 user100000 BTCUSD, 60, Long ,
BTCUSD: BITSTAMP 1h
409 0 6
BTCUSD, 60 Long
BITSTAMP 1h

here is another slightly modified count. wave circle i is completed at 13052. we are now in a wave circle ii correction. the retracement is typical wave two i shall update this chart until we reach wave 5 (hopefully close to 30K)

user100000 user100000 BTCUSD, 60, Long ,
BTCUSD: BITSTAMP wave 5
341 4 12
BTCUSD, 60 Long
BITSTAMP wave 5

this is how i see wave 5 unfolding in the coming days. i think within next 4 days we retest the all time high wave circle iii seems to be extending. please note the overlapping which is hinting at extension

user100000 user100000 BTCUSD, 60, Long ,
BTCUSD: closer look at the old c wave
324 17 7
BTCUSD, 60 Long
closer look at the old c wave

are all the fives waves accounted for? i believe so! here is my count. the fifth and third waves were extended

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: Channelling
380 3 5
BTCUSD, D Long
Channelling

if you want to know how deep the correction might be, drawing a line from the origin to B and another parallel line passing through A will give you a good idea of how far the move can be pls see pink channel and note where C ends

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
253 0 8
BTCUSD, D Long
BITSTAMP 1D

i show some of the recent macd histogram divergence (bearish in red, bullish in green). my view of the market is wave 5 is unfolding at the moment. target is near the upper channel line by mid february to early march. 30K seems reasonable and a nice round number for primary wave (circle) 3 to end. later we have a more drawn out correction for primary wave four ...

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
759 1 6
BTCUSD, D Long
BITSTAMP 1D

it's often the case wave a = c that would be at 8728. im not saying the market will go there but is a possibility going back to july's low... there seems to be a ~60 day. we are at the end of this cycle so market is making its low today

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
756 4 3
BTCUSD, D Long
BITSTAMP 1D

ok, the triangle has been invalidated. it is now just a standard sideways flat correction (3-3-5 structure). this correction is similar to the jun/jul wave 4 (see blue arrow). both retracing 62% of wave 3 and of similar duration ~30 days

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
206 4 5
BTCUSD, D Long
BITSTAMP 1D

the triangle idea is still intact (wave c ending above wave a) so it hasn't been invalidated. i believe wave d is in progress at this time... note, the upper line of the blue channel is acting as support. also, market retesting the dashed downtrend line again today for the second time. overall the market seems to be on track to ~23K (ill update the target once ...

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
601 0 8
BTCUSD, D Long
BITSTAMP 1D

here is my alternate count,.. because of the way the market is taking it's time this whole correction still feels like a triangle. i believe wave d is in progress... remember, triangles are the pattern before the final leg in our case wave 5 i just don't like the "shape" of previously labeled i and ii

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
290 1 5
BTCUSD, D Long
BITSTAMP 1D

Back to basics... Downtrend was broken on Jan 3. Now, the market is retesting support.

user100000 user100000 BTCUSD, 60, Long ,
BTCUSD: BITSTAMP 1h
468 0 12
BTCUSD, 60 Long
BITSTAMP 1h

just out of curiosity i was curious to know what kind of wave one we had... it seems wave one was a leading diagonal. leading diagonals are usually deeply retraced... i believe the final wave v of (c) is in progress... next level is 22K which is 161.8% of wave one (typical ratio)

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
165 0 2
BTCUSD, D Long
BITSTAMP 1D

possible inverted head and shoulder pattern...

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
205 0 3
BTCUSD, D Long
BITSTAMP 1D

the triangle idea has been invalidated as the market decided to move below wave e, but not much has changed in terms of the overall direction. the correction is now just a generic WXY correction. the channel is now adjusted with red 4 at 12050

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
238 0 5
BTCUSD, D Long
BITSTAMP 1D

just a small update... wave i and ii seems to be completed (or very close to ending). the price action is near the lower blue channel line so expecting a bounce as wave iii unfolds taking out the ATH in the process note wave iii may extend to ~23K note the channel is created by using three points: red 2, red 4, red 3

user100000 user100000 BTCUSD, D, Long ,
BTCUSD: BITSTAMP 1D
252 2 2
BTCUSD, D Long
BITSTAMP 1D

If the market takes out 16480.52 that should confirm the triangle completed at 14192.37 (red 4) and wave red 5 is unfolding. target is 24.5K and if it was were to extend 30.8K is possible but less likely.

user100000 user100000 BTCUSD, 60, Long ,
BTCUSD: BITSTAMP 1h
677 2 8
BTCUSD, 60 Long
BITSTAMP 1h

here is a close up of the price action. each leg is corrective i.e. a three wave structure

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