Critical Levels - EW analysis

[podyx]

The very short term count has slightly changed, see here. I do think we need a greater retrace but not necessarily 2260. We might see some incredible strength here.

We have moved in a similar way, do you think we will have another leg down to 2270 before we go up?

chessnut is reading this market really accurate

So where are we headed once we touched 2270-2280?

Chessnut, I'd obviously love to hear your opinion

[chessnut]

This appears to be a triangle breakout. looks like a good thrust will occur to the upside. Id have to assume that we will be range bound from there however.

[podyx]

What happend to going to 3000cny?

[chessnut]

What happend to going to 3000cny?

I never said it wont happen any more. the bigger picture always dominates the smaller.

[podyx]

Can we expect this to be a reverse triangle??



IE reversing back up after we have broken down?

[RyNinDaCleM]

Can we expect this to be a reverse triangle??



IE reversing back up after we have broken down?

That's called a false break

[Tzupy]

I have noticed something, the price movements during the last month, especially in China, look like local versions of a
wave 5 - the rally to 3000CNY, wave A - the correction to 2100CNY, and now what could be developing looks like a wave B,
possibly topping around 2600CNY (or 420$ Bitstamp), which could be a bull trap.

[RyNinDaCleM]

I have noticed something, the price movements during the last month, especially in China, look like local versions of a
wave 5 - the rally to 3000CNY, wave A - the correction to 2100CNY, and now what could be developing looks like a wave B,
possibly topping around 2600CNY (or 420$ Bitstamp), which could be a bull trap.

Chart please?

[madmat]

Where are you chessnut. We miss you in these sideway days.

[chessnut]

Where are you chessnut. We miss you in these sideway days.

  Im just hibernating, waiting for the beast to move. EW doesnt serve well in the doldrums, I need volatility. Im not going to continue posting charts when I seem to be off at the moment.

[madmat]

Where are you chessnut. We miss you in these sideway days.

  Im just hibernating, waiting for the beast to move. EW doesnt serve well in the doldrums, I need volatility. Im not going to continue posting charts when I seem to be off at the moment.

OK, is is all i need to know. You keep watching, great. I think we could have some activity tomorrow. Any news from the auction could wake up the beast.

[chessnut]

For the next four days I will be away and might not be able to trade or comment on the market. Dont cling to my analysis if this goes south obviously, as it could.

[Tzupy]

I have noticed something, the price movements during the last month, especially in China, look like local versions of a
wave 5 - the rally to 3000CNY, wave A - the correction to 2100CNY, and now what could be developing looks like a wave B,
possibly topping around 2600CNY (or 420$ Bitstamp), which could be a bull trap.

Chart please?

I think it's better to wait for the picture to become clearer before posting a chart.
But someone else had a similar idea: https://bitcointalk.org/index.php?topic=882130.0

[RyNinDaCleM]

I have noticed something, the price movements during the last month, especially in China, look like local versions of a
wave 5 - the rally to 3000CNY, wave A - the correction to 2100CNY, and now what could be developing looks like a wave B,
possibly topping around 2600CNY (or 420$ Bitstamp), which could be a bull trap.

Chart please?

I think it's better to wait for the picture to become clearer before posting a chart.
But someone else had a similar idea: https://bitcointalk.org/index.php?topic=882130.0

Sorry, I just couldn't picture it as you explained it, so I was asking for a visual aid

[Afrikoin]

Did anyone see bulk purchases on stamp at $ 374 ish? just me perhaps overeacting

[chessnut]

We are seeing some very bullish price action. Following a corrective zigzag we have a nice primary wave from lows. This must be followed by a move up, probably substantial. given the position of this primary wave, there is a fair chance we are in a minor wave three at the present and could be trending toward 2450 at the time being.

[BitCoinNutJob]

Did anyone see bulk purchases on stamp at $ 374 ish? just me perhaps overeacting

Yes i saw, there were also bulk buys at bitfinex around the same time

[Afrikoin]

Did anyone see bulk purchases on stamp at $ 374 ish? just me perhaps overeacting

Yes i saw, there were also bulk buys at bitfinex around the same time

What did you make of it?

I think someone was buying and trying not to get noticed ie noticeably impact the market.

[Arv1e]

We are seeing some very bullish price action. Following a corrective zigzag we have a nice primary wave from lows. This must be followed by a move up, probably substantial. given the position of this primary wave, there is a fair chance we are in a minor wave three at the present and could be trending toward 2450 at the time being.

Welcome Back!  

[keystroke]

Can you do a long term wave view like on the monthly chart? I would love to see that for some long term understanding of what this market is going to do. (I am a permabull of course...)