Ok, thought it would be a good idea to do another update on where i think btc is heading.
My previous idea was wrong, I thought we were still in what i have named transition phases. The reason being is that i had not paid enough attention to the other transition phases since each one has been smaller by !/4.
Anyway, was just a small loss since i voided the trade at 7300, but what more important is that it made me look at it closer and has brought me to the conclusion that this will be the last peak, I am now quite convinced that the next peak we have will be higher.
Anyway the above is for long term anyway, this idea is about the next move.
Since we entered a 4th phase it has been quite obvious from the start that this was going to be shorter in time and not as deep although it feel like it is more agressive simple because it is doing it in faster time.
I have started to use cloned boxes to judge the length of time a phase might take and how deep it will be. If i measure the distance from the start of the drop to the top that is after the first low after the drop it appears to drop exactlyish the same distance again from the second top to the bottom of the phase. The only difficult part is working out what is the first real bottom and the top that comes after. Also the distance from those two points is 1 third of the length of time it has been taking to get from one top to the next top.
Anyway all in all, i think we should not go much lower than 5850 BITFINEX:BTCUSD
I may well be wrong here, and i do value your feedback and your views, we will soon be seeing if i am completely out here i guess.
HOWEVER, i am still very much developing this and i am finding new things all the time. I have already spotted a possible way that this TA may be incorrect, i although unlikely its possible that i have miss identified something. But even so when we hit 5850 i will exit my short and wait to see where we go. Since if we go lower i expect about 4200....would ghave to check.....but doesn't matter as this post was actually for the trade with a target of 5850, if we make that target then the trade is good. We then look to the next move. But for now, i think it will be up, not down as most seem to think
But for this post, then all that matters is it hits 5850...thats it, nothing else matters....after that i will do a new post
a single newly born pair of rabbits (one male, one female) are put in a field;
rabbits are able to mate at the age of one month so that at the end of its second month a female can produce another pair of rabbits;
rabbits never die and a mating pair always produces one new pair (one male, one female) every month from the second month on.
The puzzle that Fibonacci posed was: how many pairs will there be in one year? etc etc etc........................ Ya should read about where the numbers come from and occur, interesting stuff