ASA2001

Wave 4 mimicking Wave 2 in correction BITCOIN

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Something very interesting to look at is how this 4th wave is mimicking the 2nd wave. If you take a look at how steeply wave A rose, and then consolidated down to wave B, it is very similar to how it is beginning to form in wave 4. This is promising to see and I hope C can do the same. It is also good to see that the correction is following a 5-5-5-5-5 formation as this will give me a high conviction of how wave 5 will form, allowing for better predictions in the following week. Stay tuned, as I will let you guys know whenever I see possible other options forming.

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so what's the next target..btc blown my acct twice
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ASA2001 NasirkhanRoghani
@NasirkhanRoghani this will be a waiting game. Bitcoin at the moment is under a lot of pressure and i wouldnt recommend to anyone to touch it. Once this ending diagonal forms the final wave, then we can take a look into bitcoin. After the 5 wave structure is completed and shows positive signs of pushing upwards, I will let you know when I am ready to invest into bitcoin and other cryptos (since they all seem to follow bitcoin). As to a price target. I have a target of around 47.5-52.5k. However, as this correction is the 4th wave of a 5 wave structure under larger time frames, it could over extend. However I dont want to bring anyone false hope, so ideally the price target of this 5 wave structure would be around 50k. After that I cannot tell you where bitcoin will go, as I will need to do more research. Hope this helps
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