user100000

user100000

there is a possibility that wave (circle) v is extending too. this is rare situation where two waves in an impulse extends but it does happen. if it does extend the likely target is 100% of waves i~iii which is around 2600+ (see pink arrows). it is quite close to where wave 3 is 261.8% of wave 1 which is "classic" extended ratio for an extended wave 3 so it...

user100000

OK, that wasn't an ending diagonal as previously suggested because the recent move up is already larger than the first leg up. I have moved the extended wave (circle) iii higher to 1892. Wave (circle) v is unfolding at the moment with a target of 2219 which is textbook 61.8% of waves i~iii. Wave (circle) v is unlikely to extend because wave (circle) iii was an...

user100000

Wave (circle) v may be an ending diagonal? each leg looks to have a 3 wave structure looking at the shorter time frames...

user100000

Wave (circle) iv was a very brief contracting triangle (1525; see a 4Hr chart). The sub waves of wave 3 (i, ii, iii, iv) point to a likely target of 1977 for wave v which is 61.8% of waves i~iii and at the same time the higher degree waves also target have a similar price level target of 1982 which is 161.8% of wave 1. When both waves of different degrees point...

user100000

Wave 3 is still underway. It's difficult to label the sub waves in real time so I prefer to look at the higher degree waves. At price level of 1982 is where wave 3 is 161.8% of wave 1 which is the usual "text book" ratio. I will try to update the chart once wave 3 is "in".

user100000

OK, that was the retest of support (green line). Markets should resume trending up (wave iii) soon. 1600s likely within a couple of weeks (same time or less than it took to form wave i)

user100000

This is an updated chart correcting my dumb mistake. The c wave was an ending diagonal and the whole abc correction was a running flat. Diagonals occur in terminal waves such as fifth waves or in this case a C wave. That is how you can tell the correction is complete.

user100000

This is a minor update. I've placed wave 2 on MAR 25 showing the correction is a running flat. It makes more sense now because the duration of the wave 2 correction is about 50% of the wave 1 impulse wave which is typical ratio. The three hour chart shows wave (c) was an expanding ending diagonal. Now, the larger trend can resume to ~1900s sometime before June's...

user100000

OK, that was the (c) wave. Bullish nested (1)-(2), 1-2, i-ii waves. Next price level is 19xx.

user100000

Not much has changed from a EW point of view. We are still on track to complete wave 3. Now, the target is even farther up because of this drop. EW is flexible and is able to handle any "shocks". I'm labeling this 61.8% retracement as wave (circle) ii. Next target level for wave (circle) iii is 161.8% of wave one which is about 1944

user100000

Wave (circle) iii was relatively short compared to wave (circle) i. The usual ratio is 161.8% or higher. So it is highly likely that wave (circle) v will extend. A reasonable target for wave 3 is 1706 for an extended (circle) v; less likely targets: 1915 and 2044.

user100000

BTCCNY chart seems to be broken so I shall try to count the Bitstamp. Circle iii seems to be underway (~1430)...

user100000

I've adjusted a few labels to better match the recent price action. Also, I've moved wave (4) farther away to coincide with the ~June cycle low.

user100000

Wave (circle) iii seems to be underway. It will most likely extend (reasonable target of 10396). The move should accelerate soon. It wouldn't surprise me if the market reaches 10K within 10 days.

user100000

I believe wave (circle) i is complete. The wave (v) ending diagonal was quite weak but it does satisfy the rules if you look closely and is similar in duration to wave (i). I'm expecting wave (circle) ii to unfold in the next 10 days or so with a target of ~1172 to 1161

user100000

An ending diagonal seems quite reasonable for wave (v).

user100000

I believe wave (v) is underway since market took out the wave (iii) high. I have a target of 1237 to complete wave (circle) i. If wave (v) does extend we can expect market to touch 1268. (note: there is a chance wave (iv) may not be complete if it's an irregular flat...)

user100000

OK, here is my ew count update. I was expecting a much larger expanding leading diagonal, but instead we got a smaller degree diagonal. I almost missed it! and was wondering why the market is melting up. At the moment, wave (iv) seems to be underway. Wave (iii) was 161.8% of (i) which is text book ratio