BTCUSD: Hindsight and Foresight
Updated
Disclaimer: This is not financial advice, and I have never received training sufficient to give financial advice. For me, this is a hobby. This is my second published idea.
Foreword
I do not currently own any BTC as I've taken a significant Long position with LTC. A similar breakdown for LTCUSDT is linked below. Comments welcomed.
Hindsight TA
Uptrend wave 1-2-3-4-5 lengths (approximations):
W1 = 3144
W2 = 1990 (.618 x W1)
W3 = 4920 (1.56 x W1, possible failure)
W1-3 = 6074
W4 = 2500 (.5 x W3)
W5 = 14490 (4.6 x W1 or 2.38 x W1-3)*
*These multipliers appear to be atypical for W5.
Downtrend wave A-B-C lengths (approximations):
WA = 10660
WB = 3787 (.38 x WA)
WC = 7262 (.681 x WA)
Foresight
I have not done any predictive analysis since I do not currently own any BTC. If I am to conjecture, then W1 of the new cycle could target 15k before retracement. The necessary capital would likely come from sell-offs of the DJI, IXIC, and SPX index funds.
Foreword
I do not currently own any BTC as I've taken a significant Long position with LTC. A similar breakdown for LTCUSDT is linked below. Comments welcomed.
Hindsight TA
Uptrend wave 1-2-3-4-5 lengths (approximations):
W1 = 3144
W2 = 1990 (.618 x W1)
W3 = 4920 (1.56 x W1, possible failure)
W1-3 = 6074
W4 = 2500 (.5 x W3)
W5 = 14490 (4.6 x W1 or 2.38 x W1-3)*
*These multipliers appear to be atypical for W5.
Downtrend wave A-B-C lengths (approximations):
WA = 10660
WB = 3787 (.38 x WA)
WC = 7262 (.681 x WA)
Foresight
I have not done any predictive analysis since I do not currently own any BTC. If I am to conjecture, then W1 of the new cycle could target 15k before retracement. The necessary capital would likely come from sell-offs of the DJI, IXIC, and SPX index funds.
Order cancelled
Re-assessed. See below.
Trade active
Wrapping up a wave 1 from Sept $47 low. Next targets indicated in chart.
Note
Clearly updated wrong idea.
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Disclaimer
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