This triangle could be Z of wave of (B) (very exciting) or b of B (not very exciting)

we are aiming for a fib of the entire retrace.

bloody took it's sweet time!

that was an e-f-g triangle where wave e extends into a triangle resulting in a very sharp beak down. it looks over. triangles are terminal. we are yet to retrace the abc from 3000 yuan by 62%, one way or the other I think we need to do this. this could offer an entry.

looking impartial at present. Its hard to say which way this triangle should go but the form is getting better.

Intermediate abc seems to be building with Okcoin positioning net long by 59%

Clearly this was an abc, either wave II species or wave B species. It may carve further lows but once broken out it should retrace at least 62% of the decline.

At this point in time the triangle seems to have taken aim to the upside. good form. This might not be the beginning of bullish continuation but bullish none the less.

BUY @381.31

This is really frustrating but here we are looks like this is the case and we even have evidence in the breakdown of the triangle that this is a terminal move. aiming for a bottom in the 2200 yuan.

SELL @377.31

Was surely the most epic blow out Ive ever seen. Im most aware how wrong the levels turned out to be but EW form is in tact and in good character.  That was a fifth wave where we want it and this is the PA we need if we ever want reserve currency status.

Now we can begin looking at the bigger picture.

We are now in a higher order of wave IV. It would be unrealistic to expect it to enter the territory of wave iv (2200) but the guideline that the price tends to is enough to be cautious trading the next wave V that will likely form the primary of the next bitcoin bubble.

I will let the price speak for it's self and continue to keep the raging bitcoin bull inside me locked up in chains.   just HODL you cold coins and stay sensible and we wont stuff this one up.


wave IV could be many things but this is a guess for now.

BUY 448.7

amazing stuff

Internals of this impulse are very nice on close inspection. It would be wise for longs to be cautious in this area. Wave iv territory is 2200, we have seen the price violently return to this area in the recent past and it is a good guideline to expect. A higher order correction seems due.

sell @375.29

beware of the terminal triangle

Lithium! come down at once!

The US exchanges have produced a typical abc correction in a valid context, while they are different markets they have to follow each other on the larger scales. The patterns from china are more reliable because china is more liquid.

This would be in a fourth wave position of some degree, and a fifth wave to follow.

The fact we entered into fourth wave territory is evidence that the iv-v blowout count was right. The sideways movement we see now could be a larger triangle but I will post the idea later to avoid the hate when a premature count changes.

... EW is King of ponzi land.

BUY @323.72

This is definitely worth keeping an eye on. This would imply another surge to 2400-2600. Give it some hours.