supestv

supestv

Look for the breakout above. Although BTC has been so bearish this past week, that doesn't mean that things go down forever. BTC bounced off the 768 fib level with conviction, and continues with bullish volume ever since. Buyers will be looking to see if the price breaks the ascending triangle lines I drew.

supestv

Check out the 4 HR OBV I drew weeks ago. I drew a descending trend line, then the 4H OBV turned positive and passed the negative trend line. Now the recent volume has been so bearish that incredibly, the 4H OBV has rejoined the significantly far away negative trend line - and has rejoined it perfectly. MT GOX GUY!! STOP IT!!!

supestv

Back before I learned TA, I didn't see the signs in Dec-Jan that clearly showed that BTC was heading for a crash. The 4H OBV in particular is a very good indicator of the market because it's so easy to read. Unlike other indicators like RSI, MACD, Volume and EMA that don't conclusively show overall market direction, the OBV has been a superior predictor...

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The retracement is definitely happening quicker than I expected, with big scary red candles, but let’s scale back a bit and look at the bigger picture. Look at my bright blue 12345 primary wave. Even if we retrace to $8300 levels, it’s still quite a bullish retracement level between 0.5 and 0.382 fib for a wave 2. I watched one guy’s video, he’s from the UK, a...

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Which wave are we on? The black circled wave is the current wave, and its characteristics will determine which wave we are on. As you can see, the yellow circle denotes subwave 1. Will the current wave look like the yellow with one more wave down? If so this is a 5 wave down, therefore the blue wave is the correct wave. If the current wave is much longer and...

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Did we start an impulse up, and this just a correction, or are we still on the last correction? I vote still on the last correction. Dumps like what we just experienced are impulsive - they are in the same direction of the impulse, therefore the impulse is down and therefore we are still on the last ABC correction down. The question is: are we on wave C, or...

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Trying to chart the EW has been difficult this past few days, I was charting 4 possibilities and trying really hard to determine which one it was. Finally I believe BTC has picked one of them which I've charted. This is a slight variation of the first one I charted, which had Wave C end at $9050, however now that I have redefined Wave B lower than I had...

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As usual - there is no straight path for BTC - only possibilities. Charted are 2 possibilities in green and pink. The pink indicates we've completed the ABC correction, and onto a fresh 12345 wave up. The green indicates that we are merely on Wave B. Until 9650ish, BTC will follow both paths simultaneously. Even if the price were to drop at $9650, it will...

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Another Schrodinger's cat situation for BTC. I think BTC is currently living in 2 possible paths: bright green or pink. My personal feeling is that the green path is correct, but must always chart possibilities not certainties, hence the possible pink path. What I have labelled as the end of pink "i" is curious because if we are on the green path, that means...

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We are currently in a very healthy ABC correction. You'll notice that B wave was hovering around the bright blue trend line, and I believe that the C wave will bounce off the other longer term bright blue trend line. The bouncing point also lines up with the subwaves of wave C. This is the VERY bullish scenario. Because an ABC correction right now means the...

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BTC seems to love these sideways correction patterns, which I believe to be the sign of a bullish market. Rather than an ABC correction going down, BTC only corrects sideways. Unfortunately it's hard to tell it's actually in an ABCDE correction (as opposed to ABC) until it's halfway through it; IMO it was only recently confirmed about an hour ago when it bounced...

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Yesterday I thought we might have only completed 3 waves up, and finished 4th and was starting the 5th. This was a distinct possibility. Another TA mapped it out as an ABC pattern and mapped the end of B at $9400 which we hit exactly. His A end point was also exact. This leads me to believe that his C end point will also be correct at $8400-$8500 which is the...

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Okay, almost every Elliott wave I've seen had us finished 5 waves up, and now on a corrective ABC wave. I now believe we have NOT finished 5 waves up, but only 3 waves up, and we just finished wave 4 down. However, this "wave 4" looks ugly any which way you draw it. Clearly we had an ABCDE pattern at the end, which I understand can occur in place of a 12345. ...

supestv

looks like everyone (that I've seen) is wrong on the Elliott Wave - we haven't finished the 5 wave up.. wave 5 still to go!! See bright blue Wave count.

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So this recent sideways wave is really weird. I've counted it as minisubwave 2 of subwave C, but it looks weird. Here's what it could be: 1. It hasn't broken the rules of a minisubwave 2, so it could be a very long and sideways minisubwave 2 of subwave C 2. ABC could have finished very shallow, and we could be going sideways before continuing the wave up 3. We...

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The first 2 subwaves of Wave C are done or almost done, which will help predict the likely end point of Wave C. This is very important because this is probably the last correction where we will see 4 digit bitcoin!!!

supestv

BTC neatly following the subwaves of the ABC correction I drew yesterday. Bouncing around where I expect it will should continually confirm the Elliott wave and the end turn around point. Then after that... to the moon!!!!

supestv

Finally the waves are making sense again. As much as I love a bullish wave, it was really hard to determine for sure where the last subwave was going to end. Now that it has definitely corrected, we can conclude that we finished 5 mini-subwaves up of subwave 3 of Wave 1 going up. Subwave 4 is in progress.