Bitcoin technical analysis

Quoting tostaky06

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maybe you should do a survey to know who think we ve ever made the bottom

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Quoting lady_luck

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{quote} Did you see how "wave 4" went exactly in the 505 area we were mentioning about 2days ago ? And since we are still within the diagonal, so to me 545 and then 610 or 630 on btce are my following target for the top of this wave. And it's seems more and more like an ED...

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Quoting venzen

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{quote} 505 hi lady_luck, I've posted a count, but no idea if it's accurate. This action between 570 and 600 is not clear at all - it may be the topping process is messy, or it'll become clearer later on (after its over! ) ED, maybe... one of the rules for an ED is that waves 1 and 4 must overlap, does that still fit with your view? I don't know where you're starting your count from, so an ED could fit depending where wave 1 is...

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Quoting emptymind

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wave (3) could take out the top at 1163 make sure you are long bros {image}

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Quoting lady_luck

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{quote} Good morning, No, my ED is gone now... I'm not sure what to think, I really like KO charts and yours 620 then 300 would be the best fit. And if that's true, since this wave C of (B) has quiet a momentum, the coming downside could be sharp and fast. But so far I'm only convince of 620, what comes next is a mystery. {image} note : the last diagonal is made out of thin air, but It feels like like a good channel with S/R

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Quoting venzen

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{quote} Good morning, I find this PA fascinating because its the first time i see clear 5 wave counts in the advancing mode. Look how the 3rd and 5th wave require a lot of effort to advance - i think the many AB-ab-etc before each accelerating C wave wastes a lot of energy, whereas when its a 1st wave or an A wave at the larger degree, BTC just moves the distance without effort. I am open to the idea that my ABC counting here is wrong but for now - I've peered into the digital fire that drives this market - and that's what i saw. {image}

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Quoting lady_luck

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{quote} So If I'm not mistaken your target would be more in the 700-800 area ? By the way, have you look at ltcusd chart lately ? It's really messy..

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Quoting lady_luck

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{quote} Good morning, No, my ED is gone now... I'm not sure what to think, I really like KO charts and yours 620 then 300 would be the best fit. And if that's true, since this wave C of (B) has quiet a momentum, the coming downside could be sharp and fast. But so far I'm only convince of 620, what comes next is a mystery. {image} note : the last diagonal is made out of thin air, but It feels like like a good channel with S/R

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Quoting venzen

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Some indications on the Bitstamp daily chart... {image}

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Quoting KiwiOz

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{quote} "Mornin' All....My thoughts if the up move is for real. It should go something like this chart. We have not quite hit the main upper trend line yet. It comes in at around 605. So. A chart for the BULLS & a chart for the BEARS... {image} {image}

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Quoting venzen

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{quote} If the buyers pile in, i agree, it could cover a lot of distance quickly!

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Quoting emptymind

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{quote} don't worry venzen, once the market climbs this wall of worry and moves towards 1163 volume will surge. i wouldn't worry about indicators they are all lagging and total waste of time imo

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Quoting venzen

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{quote} It's not a case of "worrying" about them. They are tools and can be interpreted. There is no case on any chart where reversre divergence has not resulted in a reversal. That's a fact, so saying indicators are a waste of time is just not true. look now for instance...

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Quoting dswk

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resistance / probable reversal zone (redbox + purple TL) will reduce exposition now. {image}

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Quoting emptymind

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{quote} Hello KiwiOz, do any targets appear above 1163? i'm interested where might wave (3) end. thanks bro

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Quoting KiwiOz

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{quote} Sorry mate. can't see anything above 875 at present. However I'm still getting a now completed ABC retracement reading. That means 300 is just as possible as 875. Only a retrace & move back above 590 will confirm the move higher.

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Quoting KiwiOz

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{quote} Sorry mate. can't see anything above 875 at present. However I'm still getting a now completed ABC retracement reading. That means 300 is just as possible as 875. Only a retrace & move back above 590 will confirm the move higher.

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