chessnut
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April 15, 2014, 09:14:07 AM Last edit: April 15, 2014, 09:41:46 AM by chessnut |
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This may be overly forward looking, but this is roughly what I am expecting in the coming days/weeks. 600 may put up a fight. Correction may enter 400s again, but I think that 500 may become support.
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eboard10
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April 15, 2014, 09:42:05 AM |
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Could be, or we may have just topped at 509.
Let's see how this will plat out!
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chessnut
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April 15, 2014, 10:20:12 AM |
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Could be, or we may have just topped at 509.
Let's see how this will plat out!
Are you thinking of a C wave analysis?
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Queeq
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April 15, 2014, 11:47:22 AM |
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All right. This looks reasonable: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FDfvAfjsU%2F&t=663&c=xYf3W6WrgBx-9A) So if we are at the start of the new uptrend, I guess we are struggling at the end of subwave 1 of major wave. So now it looks like we going to have correction to somewhere around 450. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FiZqOIeNV%2F&t=663&c=84gPDtN38WM9Rg) What confuses me is volume which is higher than usual. Upon reversal volume drops AFAIK.
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alphacenturion
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April 15, 2014, 11:51:47 AM |
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All right. This looks reasonable: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FDfvAfjsU%2F&t=663&c=xYf3W6WrgBx-9A) So if we are at the start of the new uptrend, I guess we are struggling at the end of subwave 1 of major wave. So now it looks like we going to have correction to somewhere around 450. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FiZqOIeNV%2F&t=663&c=84gPDtN38WM9Rg) What confuses me is volume which is higher than usual. Upon reversal volume drops AFAIK. So from your analysis sticking a limit order in around $450 looks like a solid plan right? I stupidly missed the sub $400 price waiting for funds to clear.
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Queeq
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April 15, 2014, 01:17:05 PM |
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..... sorry I read it wrong. you are saying this is wave I terminated. dont you think that wave II and IV are disproportionate?
Thanks for critics. Yep, they are. But I fail to find another way to draw 5 waves here. Especially when they fit fibos. We may assume that this is zigzag. Wave b then ends around 0.764 of previous wave 4 and wave c end around 1.618 previous wave 4. Also fits well. To confirm this we should drop below 440. But it still could be wave 2 of major wave 1 retracing. So, I don't know what is it. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FPkHaz1JW%2F&t=663&c=Rr3mxla8KhZIPw)
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chessnut
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April 15, 2014, 01:27:01 PM |
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well we know that the wedge was a wave iv to some degree. price likes to turn around in wedge territory. I will set a buy target there. Hopefully this is not a wave C.... but that could be a valid reading. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FMAcXcehp%2F&t=663&c=ov5FyZ2r13F0qg)
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chessnut
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April 15, 2014, 08:53:21 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2Fa5SvipyM%2F&t=663&c=PjMRyORiOMy3sA) .... if this wedge play on to the upside, then I would assume my earlier interpretation is correct. This may be overly forward looking, but this is roughly what I am expecting in the coming days/weeks. 600 may put up a fight. Correction may enter 400s again, but I think that 500 may become support.
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RyNinDaCleM
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April 16, 2014, 12:23:35 AM |
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..... sorry I read it wrong. you are saying this is wave I terminated. dont you think that wave II and IV are disproportionate?
Thanks for critics. Yep, they are. But I fail to find another way to draw 5 waves here. Especially when they fit fibos. We may assume that this is zigzag. Wave b then ends around 0.764 of previous wave 4 and wave c end around 1.618 previous wave 4. Also fits well. To confirm this we should drop below 440. But it still could be wave 2 of major wave 1 retracing. So, I don't know what is it. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FPkHaz1JW%2F&t=663&c=Rr3mxla8KhZIPw) Here is another option for your previous count. Has both bearish and bullish scenarios. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.sierrachart.com%2Fimage.php%3Fl%3D1397607716292.png&t=663&c=Gu1gs-XWvWanWA)
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chessnut
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April 16, 2014, 12:34:37 AM |
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I read that chart wrong the first time, deleted comment.
Really good chart, thanks. I hope to see all degrees of a primary wave kick off this new trend.
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fr33d0miz3r
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April 16, 2014, 12:36:49 AM |
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What about this? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2F9YTPBX3t%2F&t=663&c=0EhW15fYCy9s2Q)
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chessnut
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April 16, 2014, 12:45:19 AM |
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Not very detailed BUT I LIKE IT ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) fifth wave blow out FTW! I have slightly lower expectations. EDIT. btw, I dont think wave iii is over just yet. Looking for 540 at least.
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fr33d0miz3r
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April 16, 2014, 01:08:56 AM |
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EDIT. btw, I dont think wave iii is over just yet. Looking for 540 at least.
agreed
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fr33d0miz3r
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April 16, 2014, 01:15:53 AM |
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But as I see Bitcoin loves extended 5th waves, because of emotional traders. So... What if this? ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FpgQDhbSA%2F&t=663&c=cabgb1YpNIgpKw)
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CryptoWaves (OP)
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April 16, 2014, 07:10:08 AM Last edit: April 16, 2014, 07:39:44 AM by CryptoWaves |
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I made a new post. Head over to the site to check it out. I'll try to update more often if the chart needs adjustment. I was traveling and working over the previous weekend and I travel again soon, unfortunately. http://www.cryptowaves.com/It's great to see E-Wave counts and discussions presented by others. I try not to apply other people's counts to my charting, though. Edit: Nice count there, chessnut ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Queeq
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April 16, 2014, 10:42:10 AM |
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RyNinDaCleM
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April 16, 2014, 10:55:14 AM |
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Just to point something out for those of you using tradingview. It is missing 2 days of data. The 12th and the 13th. For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.sierrachart.com%2Fimage.php%3Fl%3D1397645616825.png&t=663&c=ct_vBX5obXL-9w)
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fr33d0miz3r
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April 16, 2014, 11:12:51 AM |
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Just to point something out for those of you using tradingview. It is missing 2 days of data. The 12th and the 13th. For comparison, here is a 1hr chart. The boxed area is not included on tradingview at the time of writing. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.sierrachart.com%2Fimage.php%3Fl%3D1397645616825.png&t=663&c=ct_vBX5obXL-9w) ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) OMG. Thanks!
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chessnut
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April 16, 2014, 11:27:50 AM |
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yah I noticed something was wrong.....
so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.
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fr33d0miz3r
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April 16, 2014, 11:32:46 AM |
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yah I noticed something was wrong.....
so I think we just saw wave iv of III of the primary wave, hitting a bottom in that little wedge. super good support. we should top off wave III at maybe 550-560.
Look at how we are passing EMAs step by step ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FXskfMZKX%2F&t=663&c=uJivOtIdINAjvA)
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