Long

Updated

BTC bull run pushed by Elliot Wave, Wolfe Wave, Bull Pennant

Lets assume that since the bottom
We have seen a major Elliott Wave forming and we are in the firs major corrective wave.
In the first wave we have seen 5 sub waves and are currently in sub wave C of the corrective wave
Its possible that we will see a massive Wolfe wave push us up into a reversal
pushed up further by a massive bull pennant forming

Following Elliot wave theory
the corrective wave is supposed to retract 50-62%
which would put our estimated entry between $8400 - $9100

Feeling very bullish for the near future.
I am just learning and sharing idea's hoping to learn more

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We may have just missed the sweet entry
though im unsure because we havent retracted much for a corrective Elliott wave

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Estimating potential bottom/entry at
$9250 and 10pm PST
I estimate like this to see how well I am learning

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I suspect that we are moving towards $14-15k by around March 17th
from the size of the pole leading to the bull pennant.

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Perhaps we are going lower before going up

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If we are mid correction wave c
then I will plan to scale my entries in at about $8900-9100 mid 2/25/2018

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Should know a cleaner estimated entry and time soon.
So far we are in
Major Corrective wave 1, Minor wave C, Micro Corrective wave C
Thinking it will happen pretty quickly and abruptly

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Working on finding target direction, entry and time frame.
Seems like a low of $8400 and high entry and confirmation level 1 at $9000

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Recently noticed potential bearish Wolfe wave (in orange)
gives a new estimated time period between February 25th to 27th

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Sorry Wolfe wave outlined in Yellow, not orange

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Longs have started accumulating yet shorts havent started closing
I suspect that the longs are buying on their target 1 entry so to not miss a low
yet the shorts have not started closing yet
because I assume we have not seen the bottom of the corrective wave

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Updated estimated target entry and time frame

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Current estimated path of the corrective wave.

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Bull pennant only half complete?
Also we have not retraced back yet to 50-62% for a corrective wave.
I suspect a short lived bull run back towards the historic resitance trend line
then back down to $8000-9000

KondrackiKarl

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KondrackiKarl

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