Nights Watch by Afrikoin

[RyNinDaCleM]

So RyNinDaCleM thinks we are going to $50ish in 2017. Fun that's gonna be

Seems like whatever he was showing there has been invalidated by price action since.

No accordimg to him it's a abc correction. As long the end of wave b is lower than beginning of a it's still in play. So we basically have to break ath to invalidate it.

It's actually still technically in play even with an ath break. B wave can and often does make a new price extreme.

[1715505884]

1715505884

[wpalczynski]

Perpetual bear market then.  What conditions need to be fulfilled in order to break out according to that analysis?

[RAJSALLIN]

So RyNinDaCleM thinks we are going to $50ish in 2017. Fun that's gonna be

Seems like whatever he was showing there has been invalidated by price action since.

No accordimg to him it's a abc correction. As long the end of wave b is lower than beginning of a it's still in play. So we basically have to break ath to invalidate it.

It's actually still technically in play even with an ath break. B wave can and often does make a new price extreme.

RyNinDaCleM I know you don't agree with masterluc on that we are now on major wave 3. As far as I understand it's mostly due to the fact that masterluc ignored data from MtGox in the early days. How big of an error do you think this is? Why don't you think masterluc has any concerns with it?

[wpalczynski]

Where is Master Luc anyway?  Have not seen any TA from him in a long time.

[quake313]

There is absolutely no reason for bitcoin to go sub 100, bears gonna bear, that is all. You can also look at it this way, as long as there are still bearish people we are in good condition. When the bears become bulls, then we have trouble.

[Jumanji7]

Where is Master Luc anyway?  Have not seen any TA from him in a long time.

Here is Master Luc`s recent chart for short and medium term:

https://bitcointalk.org/index.php?topic=274613.msg16895350#msg16895350

[RyNinDaCleM]

So RyNinDaCleM thinks we are going to $50ish in 2017. Fun that's gonna be

Seems like whatever he was showing there has been invalidated by price action since.

No accordimg to him it's a abc correction. As long the end of wave b is lower than beginning of a it's still in play. So we basically have to break ath to invalidate it.

It's actually still technically in play even with an ath break. B wave can and often does make a new price extreme.

RyNinDaCleM I know you don't agree with masterluc on that we are now on major wave 3. As far as I understand it's mostly due to the fact that masterluc ignored data from MtGox in the early days. How big of an error do you think this is? Why don't you think masterluc has any concerns with it?

Well, it's a combination of things, really. While we are trending up (the main reason I have coins right now), The whole rise is a mess like a wave-B and volume isn't rising as much as the price is. Take this chart for instance. It shows a pattern of higher highs and higher lows. It's a good uptrend! But only after the break of 800 did true demand come. It came if the form of FOMO or panic, but almost in slow motion. 700-790 was expensive, but 800+ is cheap and everyone wants in!?

The volume is weakening as it rises. The 504 top was strength, but subsequent highs that follow should be getting stronger, not weaker.
There is a green arrow where luc has his small wave 2 since the giant III started. Every exchange made a ll than the start of his 1... One of the hard rules of Elliott Wave.

There are others as well, but I don't have time to go into it right this moment. I did provide a trendline (above-Blue) that would mark the strong sell upon a close below it on say on a 60-240 minute candle. This is not to say THE top is in, but a top is in. I think $1000 is quite likely but it needs to go to 900-930 first.


Edit:
Quick $50

[Afrikoin]

I just exited my real position at $903. All my BTC from cold storage

On the virtual sim trader by RynDiclem, I am holding out for the top (whatever it is).

Great ride guys! Once we do this again, for a couple of more times, we will know this market like the back of our hand. We'll grow up to be old and frail, and the most experienced traders from when it was birthed

Merry Christmas!

[Afrikoin]

Now that this abc is behind us in clarity we can play with the idea that this could be a grand wave iii following a wave ii. Not necessarily but I dont see why this is a lesser count given what is behind us.

Happy bubbles everyone looks like this is happening. Target for 3 would be 8000-9000 yuan at a glance.

[Afrikoin]

Reminder to mainstream media: produce clickbait articles titled "why is Bitcoin going up"

[Afrikoin]

This bitcoin rally has barely started

[elasticband]

Bitcoin be like ho ho ho merry fucking christmas

[Afrikoin]

Bitcoin Surges Above $900 on Geopolitical Risks, Fed Tightening - BLOOMBERG!

https://www.bloomberg.com/news/articles/2016-12-23/bitcoin-surges-above-900-on-geopolitical-risks-fed-tightening

[afbitcoins]

Is this an inverse head and shoulders spotted on the 1 hour chart

[Fakhoury]

Is this an inverse head and shoulders spotted on the 1 hour chart

I see it so as well.

[Afrikoin]

INDUSTRY INSIDERS PREDICT ‘HIGHER’ BITCOIN PRICE IN 2017

http://bitcoinist.com/insiders-predict-higher-price-2017/

[Afrikoin]

Is this an inverse head and shoulders spotted on the 1 hour chart

Yes  i too am watching it, been watching it since yesterday and at one point sketched out these 2 H&Ss

[Afrikoin]

[Afrikoin]

$955 target hit

[Afrikoin]

Looks like a deep a b c correction dump coming up.

A larger fractal a - b - c.

Similar to the one at $920 that abc'd to $858

Thinking out loud here