By george I think i've got it! My count (adjusted) Bitcoin

By ltc-joe

Updated

I think we are in wave 3 of an extended wave 5 of 5.

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blue shows where I believe we are within wave 3 (zoomed in)

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Price at resistance but showing no signs of slowing down. RSI broke the trendline, Stoch RSI looking good, MACD crossed. All systems go.

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Great news
twitter.com/lopp/status/925870585611091968

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Looks like wave 3 is complete:

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Targets for wave 4 are the purple line ($6850 or so) and if that doesn't hold then the blue fib ($6350 or so)

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If the price makes new ATH's then i'm wrong and wave 3 is still in progress.

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$6900 bottom close enough...I think that's it for wave 4, time for wave 5:

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Wow looking great moon moon moon. Seems to confirm 69xx was the bottom. Slight adjustment here, wave 3 is still in progress I think:

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Looks to me like wave 4 is in progress:

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bouncing now but don't think we're out of the woods yet, seems we are going up to make former support resistance then we head down to finish the correction to 6k-$6300 or so. Then new ATH's.

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I think that's it for wave 4 guys:

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Eh, bad call, sorry guys. It happens, but as far as the count goes, still totally valid as long as we dont go below 5k.

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Looks like a good risk reward here, possible 4 is now complete. Careful though, if it goes below $5500 going straight to 5k.

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Looks like we're going to test 5k...

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Eh maybe I spoke to soon, we'll see. Honestly could go either way. Probably which ever breaks first $5600 or $5900-6k.

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Could not break through 6k...

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So well see, could go either way.

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Looking good, as long as we stay above 6k than I think wave 4 is complete:

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Looking great, and now we have a beautiful bull pennant forming:

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Short term target reached more or less:

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Keeping an eye on the 1.38 extension...if we can successfully clear this level, the uptrend resumes...if not still can expect a decent pull back before we go to 10k+

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Just updated the fibs to take into account the new high, again unless we break the 1.38 ext (around $8500) still expecting this pull back for wave 2 of 5 of 5:

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Sorry guys, forgot to update this one, price broke above $8500 and pulled back a bit and went higher, seems clear we are going up and the uptrend continues. Could get still get that pull back from higher prices, well see.

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Could still go higher tough to say but regardless I think this is just the first wave, so could get something like this soon:

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Stoch RSI overbought on every time frame from 30m up to the 1 week...could get something like this soon:

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Went a bit higher, but starting to slow down a bit, might finally get that nice drop here. So, been thinking about it (and I don't want to scare anyone lol) but it is *possible that this was the entire 5th wave and the cycle is complete. NOW, I don't think that's the case, I think more likely this is just a 1 and 2 of another big impulse up. But its important to consider all possibilities. So if i'm right, and we head down, this is either the start of an "A" wave of a big A-B-C correction, or its just wave 2 of a huge move up. Again I still think the latter is more likely. We have no way of knowing, so let's see how the market reacts to the next dip (assuming it actually comes):

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Here's a visualization of what I mean on the daily chart, looking for a nice pullback, and then either the green arrow scenario or the red arrow scenario. Let's hope it's green : )

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*Sorry 1 should be: 1/5, and 2 should be 2/A!! Hope that makes sense.

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Like this *

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Looks like she's got more steam left in the tank...still think we'll get a nice pull back soon...then I will basically look to see how we react to that dip...

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Time to ruin the fun?

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Guess not, so wrong haha. If it can maintain 10k who knows how high it can go.

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HMM okay, finally reached the target of this chart. This is strong resistance, if we're goign to get a pull back it should come in this range. If not, you can just throw the charts out the window : )

Anyway, few premature pull back calls aside, ended up being a nice chart. Will probably publish a new one instead of updating this one going forward. Gluck all.

ltc-joe

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