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The recent price action did not develop into an expected impulsive wave, this could mean a revision of the previous major counts are needed. We could still be in correction. If this is the case, longing here is not a good idea as wave C will be coming. Sentiment: It doesn't help that Sir_Lemagnifique_Saj has recently changed his long term view from "scam,...

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Looks like this could develop into a "Double Three" correction. A triangle instead of flat is also possible, but not as likely.

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Re-charted this from Kraken to Poloniex. It looks like wave 3 of 3 is starting soon. Nice long entry here. As from previous charts, expecting all time highs in the near future.

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Unless we break down below .021, I see this as wave 3, new all the highs. Reference for future: People right now are extremely bearish, this chart might look obvious in hindsight

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With new information coming in, this is starting to look more like a wave 1 leading diagonal instead of wave B. The minor counts are in line with this. This could go anywhere from .031 to .033

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Test

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Just a little more clear with the labelling. This whole retrace will take a little longer than most people expect.

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Initially I thought we were back onto a bull trend, but this recent bull action did not develop a strong wave 3. I believe the recent bottom of .02 is just part A of a longer retracement.

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First impulsive wave followed be a classic flat abc retracement 335.

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All the annotations are on the actual chart. No rules are being violated and no other explanation for the wave 1 impulse. If the wave 1 impulse was indeed correction, wave A (Or B if it was a correction) would be lower than 61.8% minimum, but instead we have it at 50% of wave 1. This means Wave 1 was impulsive. With that in mind, Wave A and B are zigzag form with...

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Expecting a triangle coming up, but where after? If this is wave 2 (Double three running correction), then the labels in RED is correct. (BULL, UP, LONG) If this is a terminal impulse, then the label in GREY is correct. (BEAR, DOWN, SHORT)

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Its the same thing every time. compare this: blog.stocktwits.com with this: i.imgur.com Stealth phase: We had a nice long accumulation phase when no one really cared between $200-$240. But when the range broke, we had "take off" Awareness phase: People slowly saw breakouts, we even broke $300 without too much difficulty, and then we hit $336 for the first sell...

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An ABCDE correction that looks to be breaking out: Expect to see 380+ soon. "The ascending and descending triangle wave patterns are seen as a region of horizontal price movement, which represent a period of consolidation of a prior upside move or downside move, before the price of the asset continues in the direction of the initial move."