BTCUSDT Waves. Under the microscope(10.10.2017)
Our prospective model "wedge" did not take place. The market has sharply gone up and now has taken a timeout.
Today, the markup has been modified and moved to another level higher to assess the overall picture. Because the internal structure of the emerging upward movement consists of triples (although many are under the intoxication of the "bitcoinomania" and are labeled as 5 wave impulses), then we dare to assume that the main correctional wave 4 (red) is not completed and will take the form of an incorrect correction. The nearest key level for us is 5400.
We noticed a possible similarity of some segment of corrective waves and denoted it with a colored ellipse. Similarity and alternation - the wave order of the chaos of prices.
The strategy for this period is conservative. We will wait for a clear correction, when it is not ripe. You can work on a breakdown set by the maximum with a short Stop Loss.
The reason for this growth right now is the possible bitcoin hardfork, scheduled for October 25.
"Buy on the rumor, sell on facts."
Today, the markup has been modified and moved to another level higher to assess the overall picture. Because the internal structure of the emerging upward movement consists of triples (although many are under the intoxication of the "bitcoinomania" and are labeled as 5 wave impulses), then we dare to assume that the main correctional wave 4 (red) is not completed and will take the form of an incorrect correction. The nearest key level for us is 5400.
We noticed a possible similarity of some segment of corrective waves and denoted it with a colored ellipse. Similarity and alternation - the wave order of the chaos of prices.
The strategy for this period is conservative. We will wait for a clear correction, when it is not ripe. You can work on a breakdown set by the maximum with a short Stop Loss.
The reason for this growth right now is the possible bitcoin hardfork, scheduled for October 25.
"Buy on the rumor, sell on facts."
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