Same chart as but made for BTC China, as Gox's API is currently down.
Disclosure: I am new with E.W theory. I would love to hear some feedback from other EW experts out there. I am not sure if the a,b,c waves are just a correction phase, or the start of a downtrend. In this graph, I am assuming its just a giant correction, before we head up. (if I thought it was a trend change, then I would apply 1,2,3,4,5 as opposed to...
Im still fairly new to EW, (so please comment, i like to learn) but its usually a bearish sign with the end of the 5th wave is at / or lower then the 3rd wave. Mix that in with the fact that we have been crazy bullish the past few days, its safe to assume the bull is getting tired. My guess is we will fall to old support around 915 / 920 for a small wave up, then...
3 phases of downward correction. Target? Somewhere in the 700's
I hate predicting timeframes. I was not going to publish this, but I thought what the hell - I will for fun. Now, although this chart is a bullish prediction, I remain pretty NEUTRAL for a few reasons; 1) We have heavy resistance around 1115. We have failed to go through it 3 times already. 2) We just had a insane bullish run, people are wanting to take profits,...
Im currently sitting with fiat until I get some solid confirmation. I like to swing trade, so I stick to the 15 min chart, and you can see by looking at the yellow dotted lines, that we are in a downtrend. We had a pretty solid run up last week, lots of great media hype, and a very bullish attitude. Now that we have hit all time highs, I'm assuming people are...
I was not really expecting this. I expected a much larger pull back so I could buy more "cheap" coins (I would of loved something the 600's). Unfortunately, I had to buy back in, and may I dare say it, but I expect us to hit 1000 this week. The sediment of bitcoin continues to get exponentially bullish every week. Just when you think it can't get any higher, it...
The bottoms are starting to not be as high. Matching trend lines to each low makes it look exactly like the macd, which just bearishly crossed. I expect one more mini really to complete a bearish head and shoulders, followed by some decent selloff in the next day or two.
Bearish for the time being. Looks like a duplicate of last nights action to me.