Bitcoin Long - 4 hr chart for perspective - Wave 3 Underway?

27 févr. 2018

With so little market data it is hard to see the market longterm...there aren't any longterm action or patterns to observe! Still human behavior is human behavior, so we just zoom down to the 4 hour chart.

We do know in ANY market a parabolic price action (like we saw with BTC) WILL see a big retracement. It has done that have eclipsed the 61.8 fib and coming very close to the 78.6. When it didn't touch 78.6, that was a good clue the retrace meant was over and we could put a corrective wave A-B-C and see if it came close. EW guideline for wave C is it most often descends into wave 4 territory of preceeding impulse wave which it has. So a case can be made that we are starting back up with a new impulse wave, of which 1 and 2 MAY have completed - as shown by the count.

Set your stop below wave two, or if you are really confident of the new impulse, open a smaller position and set your target just below the start of wave 1

Target either way is 15,000

2 mars 2018

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+5% since start of post...looking like we have a good count here and it is in the start of the lower degree wave three, in the larger wave 3 off the 4hr:

2 mars 2018

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15 mars 2018

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Retrace breached the 61.8 fib which is a high prob for a bounce....next possible downside would be the 78.6.