narcoleptic_insomniac

12/22/13 BTCUSD Elliot Wave Continued

MTGOX:BTCUSD   Bitcoin
0
Earlier in the day I noted that the BTCUSD may be entering into phase I of an Elliot Wave. Assuming that was correct then we should now be nearing the completion of phase II. If this is the case then I really don't feel that phase II will break 680. Phase I was around 700, so if we break that then I'm totally off. I expect prices to linger between 665-675 for about an hour or two before entering phase III. I don't feel confident enough to predict the bottom of phase III, but based on the length of phase I, I expect it may test 600.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.