BitcoinLong
BTC - A New Notion On The Wave Count
Updated
This came up today in my constant search for crypto understanding, and I decided to put it out there as an update to my (and others) recent wave counts.
Credit to Philakone for this notion.
I can go with this, mostly because of the sluggishness of what I was counting as a Wave 3.
It just seemed a bit lackluster for a Wave 3, and particularly for what should now be in a subwave 3 of WAVE THREE.
They generally rocket launch with speed, verticalness, and length. Not seeing this happening here.
Also, what I had previously counted as a Wave 2 (now Wave 4) makes more sense as a Wave 4,
rather than what appeared to be a fairly short Wave 2.
It could still work as I had it (refer to my previous chart if you need) but this actually makes more sense.
For the WAVE THREE target, I decided to let it punch through the old All Time High, rather than be resisted there.
It MAY be resisted there for a bit... but I'm counting on Bull excitement to push it through to a new all time high.
Time will tell!
Good luck traders! Wishing you all the best in 2018 and beyond.
Credit to Philakone for this notion.
I can go with this, mostly because of the sluggishness of what I was counting as a Wave 3.
It just seemed a bit lackluster for a Wave 3, and particularly for what should now be in a subwave 3 of WAVE THREE.
They generally rocket launch with speed, verticalness, and length. Not seeing this happening here.
Also, what I had previously counted as a Wave 2 (now Wave 4) makes more sense as a Wave 4,
rather than what appeared to be a fairly short Wave 2.
It could still work as I had it (refer to my previous chart if you need) but this actually makes more sense.
For the WAVE THREE target, I decided to let it punch through the old All Time High, rather than be resisted there.
It MAY be resisted there for a bit... but I'm counting on Bull excitement to push it through to a new all time high.
Time will tell!
Good luck traders! Wishing you all the best in 2018 and beyond.
Note
The perpetual bull in me most likely undercut the depth of the wave 2 ABC. Lets assume that realistically it will go down to the red 0.5 fib... right to the same depth as the previous subwave 4... before it heads into the Wave 3.Just sayin'.
Shorters rejoice! That will be approximately a 3.5k correction.
Question. Does a bear short in the woods, and does anybody hear it?
Note
My fibs got totally wonked out when I updated this chart. They are not in their correct places. Sorry about that. Live and learn!
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