CastAwayTrader

CastAwayTrader

On 8 February 2019 I showed you a bullish declining wedge and announced an upcoming rally. On 14 February I showed you another bullish wedge and said that we gonna get rally to 4,000. Today, after 30% quick gain off the bottom I want you to cool down. I am still bullish on Bitcoin. But we got wave i up of a larger wave ( c ) up. We may get now a pretty deep...

CastAwayTrader

Bitcoin has broken out again. A target for this move up is at least 4,000

CastAwayTrader

Bitcoin has been consolidated after a spike in a bullish descending flag. It may stretch lower all the way to 3,580 to retest from above the critical resistance I outlined for the breakout. The next rally should target at least 4,000

CastAwayTrader Updated 

BTC is breaking out the bullish wedge, the target for the rally is the same 5,000

CastAwayTrader

My count has not changed. I count that decline off the top at 4,368 made in December 2018 as the top of wave ( a ) up off the low at 3,217. Not only that corrective wave ( b ) down has a fully completed structure but it also looks like a falling wedge, an easily recognized technical pattern likened by many traders. At this point I lower the critical resistance...

CastAwayTrader

Bitcoin ignored a great micro long setup and dropped to 3,422 instead. It re-entered into my green target box and finally let me bought another tranche of GBTC under $4.00. Now I have 80% of my full long position At this point the first signal of a new rally would be a break out through 3,660 resistance.

CastAwayTrader

I count the spike to the low of 3,462 into my green target box on 22 Jan 2019 as the low of the corrective wave ( b ) of ( i ). That implied we have started a rally in wave ( c ) of ( i ) up. That wave ( c ) should be subdivided into five waves of smaller degree. We might have completed wave i up with a spike up to 3,750 on 26 Jan 2019. We can get a great long...

CastAwayTrader Updated 

On 13 January 2019 I posted a chart with a green target box where a corrective wave b down should land. That target box was located in between 3,529-3,427-3,380. During the following two days Bitcoin could drop only to 3,570 and then jumped. Then in my update on 19 January 2019 I concluded that even though it did not tag my target area that jump off the last low...

CastAwayTrader

I can only repeat what I wrote in my last update: "We have enough micro waves to consider that wave b down complete. My minimum target for the rally in wave c of i is 5,000"

CastAwayTrader

In my previous post dated 13 Jan 2019 I wrote: "At this point the micro structure of that wave b is almost completed. One more push down to 3,520 would be a great buying opportunity. As soon as that corrective wave b down finds its bottom I expect another strong rally targeting at least 4,990 . But it can stretch to 5,605 or even higher. " The very next...

CastAwayTrader

BTC has been following nicely my counts. On December 15 th I posted a count where I mentioned it was time to buy because Bitcoin got enough waves to consider the whole decline off the all time high reached in December 2017 completed. My initial expectations did not change. I expected a-b-c move off the low that will be come wave i of a new rally. On December 24th...

CastAwayTrader Updated 

I expected that drop and now wait until it arrives into the green target box

CastAwayTrader

We have two alternative micro counts at this point. Scenario 1. Wave a off the bottom has topped and we are inside ugly wave b down. In that case to complete that wave b down a drop to 3,475 - 3,300 would build a base to a rally in wave c of I off the bottom. This is my main scenario at this point. I am a buyer in the green box Scenario 2. wave a my not have...

CastAwayTrader

As expected, bitcoin has made one more high and got close to the first target of 4,500. It can stop here and start a corrective wave b down. But it would be so much better if it could at least briefly violate a very strong and important resistance of 4,500. Such a break even on a temporary basis be a great sign that the bottom is in. The ultimate goal for us is...

CastAwayTrader Updated 

As I posted last time, BTC has perfectly complete a macro and micro structure of the decline off the top in December 2017. Now we should watch for the first a-b-c move off the low that would be wave i up of the new rally. Read more on www.CastAwayTrader.com

CastAwayTrader

Bitcoin is approaching an important target of 3090 where the final (a)-(b)-(c) of the wave ( v ) may get completed. 3,090 is 176.4% extension of wave ( a ) which a very typical extension for completion of the wave ( c ). Together with a very completed micro five wave structure of the wave ( c ) of ( v ) that creates a high probability LONG setup. visit my web site...

CastAwayTrader

The micro wave iii looks having completed. From here we should get a corrective wave iv up. As long as resistance 5,750 holds we would see another drop in wave v down to the long expected target around 4,000

CastAwayTrader

That final decline in the wave ( c ) of ( v ) down in the ideal world should be structured as five wave impulsive structure. Today's drop looks like a perfect candidate for the wave c of iii. And that wave c of iii down may extend to 4,700 - 4,500. Then a corrective pullback in wave iv up should hold under 5,750 to give birth to the final push down in the wave v...