BTCUSD Corrects to 2600 by end of 2017, EW tells
Hello traders,
bitcoin had a rollercoaster ride since early Sep. First 5000 on 9/1, then below 3000 on 9/15. I successfully predicted 3000 in my last post, see related idea below.
Today I'd like to bring to your attention the movement in the past week. Bitcoin went from 2972 to 4119, then came down to 3514, then back up to 3750.
My point here is, if you understand Elliot Wave, the recent rise CANNOT be an impulse wave. I cannot spot a 5 wave structure within 2972-4119, no matter how hard I try. If it's not an impulse, then it has to be a B wave with a 3-3-5 count, and potentially could reach 4600, before it crashes down hard.
The crash will form the C Wave, from 4600 down. My new prediction is a 2600 bottom with a 1 to 1 ratio (actually very conservative). If you want to get into Bitcoin, this will be the opportunity. You may want to start buying at 2800, or even 3000 level.
Remember, Patience is Key.
bitcoin had a rollercoaster ride since early Sep. First 5000 on 9/1, then below 3000 on 9/15. I successfully predicted 3000 in my last post, see related idea below.
Today I'd like to bring to your attention the movement in the past week. Bitcoin went from 2972 to 4119, then came down to 3514, then back up to 3750.
My point here is, if you understand Elliot Wave, the recent rise CANNOT be an impulse wave. I cannot spot a 5 wave structure within 2972-4119, no matter how hard I try. If it's not an impulse, then it has to be a B wave with a 3-3-5 count, and potentially could reach 4600, before it crashes down hard.
The crash will form the C Wave, from 4600 down. My new prediction is a 2600 bottom with a 1 to 1 ratio (actually very conservative). If you want to get into Bitcoin, this will be the opportunity. You may want to start buying at 2800, or even 3000 level.
Remember, Patience is Key.
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