Critical Levels - EW analysis

[Chef Ramsay]

With the extra demand created by XBT and subsequently by GBTC, we should see some uptrend for a period of time. Day one on the dip should be understandable but further movement will likely be something different. The next days should see a hallelujah factor, so thx for chiming in.

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[lebing]

With the extra demand created by XBT and subsequently by GBTC, we should see some uptrend for a period of time.

exactly. i would not want to be shorting btc right now. the charts are still showing indecision and the fundamentals are saying up.

[Dotto]

My count says a tsunami is coming. Not sure in which direction, tho

[Afrikoin]

I missed you all Really. Itchy fingers yearning to login to bitcointalk.

Glad we're back up again.

-Someone should chart a price chart fused with bitcointalk shutdown times (ALL).

-Also, any chance of swiping contacts beyond this forum? Just in case we ever shut down again. Hangout? ANything

[akhentek]

I usually lurk on this thread. It was deeply missed during the downtime.

I want to thank everyone who regularly contributes. Your comments are all deeply appreciated.

Much gratitude,

a.

[readysalted89]

I missed you all Really. Itchy fingers yearning to login to bitcointalk.

Glad we're back up again.

-Someone should chart a price chart fused with bitcointalk shutdown times (ALL).

-Also, any chance of swiping contacts beyond this forum? Just in case we ever shut down again. Hangout? ANything

We could start a backup thread on reddit as a contingency plan for future downtime here. No doubt it will remain empty unless bitcointalk goes offline, but it could be useful in the future.

[Fakhoury]

I missed you all Really. Itchy fingers yearning to login to bitcointalk.

Glad we're back up again.

-Someone should chart a price chart fused with bitcointalk shutdown times (ALL).

-Also, any chance of swiping contacts beyond this forum? Just in case we ever shut down again. Hangout? ANything

We could start a backup thread on reddit as a contingency plan for future downtime here. No doubt it will remain empty unless bitcointalk goes offline, but it could be useful in the future.

+1

[chessnut]

Nobody missed out on any great counts (not from me at least) 

Im glad to say that the TV EW tool has been totally transformed. Love it.
 
The count is fairly ambiguous as correctives tend to be but the bias is clearly bullish. While the triangle is valid at this stage there is no evidence to say it is not a part of a flat that will correct to the 62% area.



As we are approaching the point of decision I would like to introduce of the of the best candidates for a bullish case we have. An EW trader on TV called Anil mangil seems to like this one. I think its valid and since the Leading Diagonal the decline could be is in fact a rare case in nature I would argue this one has a fair shot at unfolding. Too early to tell in any case.

[vphen]

@chessnut, update please.

[chessnut]

@chessnut, update please.

Seems to be a flat rather than a triangle, not a surprise really as I noted earlier that this could be a flat.

The count is fairly ambiguous as correctives tend to be but the bias is clearly bullish. While the triangle is valid at this stage there is no evidence to say it is not a part of a flat that will correct to the 62% area.

Im waiting a few days for the bears to gently push this toward the 62% fib, then we can look for a potential bottom to form. 1375 is fair game. If so It could produce a strong bullish opportunity.

[Fakhoury]

@chessnut, update please.

Seems to be a flat rather than a triangle, not a surprise really as I noted earlier that this could be a flat.

The count is fairly ambiguous as correctives tend to be but the bias is clearly bullish. While the triangle is valid at this stage there is no evidence to say it is not a part of a flat that will correct to the 62% area.

Im waiting a few days for the bears to gently push this toward the 62% fib, then we can look for a potential bottom to form. 1375 is fair game. If so It could produce a strong bullish opportunity.

I would like to hear your feedback about the current crush and what do you think about the current situation ? Bullish ?

[chessnut]

I would like to hear your feedback about the current crush and what do you think about the current situation ? Bullish ?

The current crush? crash? I think that the true bottom probably lies in the $80-150 area but weather we reach this year doesnt change that I think in terms of EW that bitcoin will likely see $400-$800 territory again without much trouble in the next year. I am bullish on bitcoin very long term, the larger counts can accommodate the theoretical market caps of 40-400bln and possibly more, although I think that is not up to EW to decide at this point.

[Afrikoin]

Exited my longs 

$225 mental stop loss was it for me. Spike to $223, had to cut. Now to observe and see if we head back up.

[LFC_Bitcoin]

I would like to hear your feedback about the current crush and what do you think about the current situation ? Bullish ?

The current crush? crash? I think that the true bottom probably lies in the $80-150 area but weather we reach this year doesnt change that I think in terms of EW that bitcoin will likely see $400-$800 territory again without much trouble in the next year. I am bullish on bitcoin very long term, the larger counts can accommodate the theoretical market caps of 40-400bln and possibly more, although I think that is not up to EW to decide at this point.

Hey chessnut, that's nice to read mate, the price is very deflating atm.
Even 400 USD seems like a million miles away atm.
It's nice to see somebody like yourself predict 400-800 USD within the next year or so as you don't have any agenda, you call it how you see it.
The thing about this forum now is that there are too many trolls with agendas trying to trick people to suit their stance or 'what they want to happen'.
Nice to read that post any way, sorry to bother you.

[podyx]

Looking for a bottom to form now? How can we confirm a temporary bottom? Going back over $230?

[Tzupy]

Looking for a bottom to form now? How can we confirm a temporary bottom? Going back over $230?

My guesstimate for the next local bottom is 210$ - 215$, with rebound to 225$ - 230$, followed by a lot more downtrend.
Stopping now at 221$ would be somewhat bullish IMO.

[tex99]

Looking for a bottom to form now? How can we confirm a temporary bottom? Going back over $230?

My guesstimate for the next local bottom is 210$ - 215$, with rebound to 225$ - 230$, followed by a lot more downtrend.
Stopping now at 221$ would be somewhat bullish IMO.

What sort of time frame do you think that might happen over, weeks or months?

[RyNinDaCleM]

Looking for a bottom to form now? How can we confirm a temporary bottom? Going back over $230?

My guesstimate for the next local bottom is 210$ - 215$, with rebound to 225$ - 230$, followed by a lot more downtrend.
Stopping now at 221$ would be somewhat bullish IMO.

What sort of time frame do you think that might happen over, weeks or months?

hours to days

[chessnut]

Looking for a bottom to form now? How can we confirm a temporary bottom? Going back over $230?

No good trying to catch it, at this rate its aiming a bit deeper over the coming days, it will be slow to turn. Wait for it and see what it does. 1d Macd turnining down, dont wanna fight that without substantial evidence.

[SkyValeey]

You have no idea now chessnut? Your last bullish charts were pretty naive