IamCryptoWolf
Long

Bitcoin in a Wolfe Wave pattern - Elliott Wave & beyond

BITFINEX:BTCUSD   Bitcoin / Dollar
BTC             in a possible WW pattern.
Market eyes line 1-4.

Technicals of WW:
1 - Points 1-2 should be FARTHER apart than points 3-4
2 - Point4 should exist WITHIN the range of Points 1 and 2
3 - The lines defined by these points should be referred to as Line 2-4 and Line 1-3
4 - Line 2-4 and Line 1-3 should CONVERGE always
5 - IF Lines 2-4 and 1-3 converge DOWNWARD (as in this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BULLISH WW
6 - IF Lines 2-4 and 1-3 converge UPWARD (opposite to this case), expect a significant rally to occur ONCE price reaches point-5 (RARE), or Point-5' (MOST COMMON) - This would constitute a BEARISH WW
7 - A NEW line should be defined, connecting Point-1 and Point-4.


a) Points 1-2 are connected by a zig-zag ( a simple a-b-c pattern in this case) and points 3-4 are connected by a flat 3-3-5

INDICATORS confirmation:
4hr MACD bullish divergence

WW Model eyes line 1-4.

Kommentar: sitting on daily MA100 support.

snapshot
Kommentar: 1st target 14k.

here i provide two forecasts.

snapshot
The wolves eat the bears :-)
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IamCryptoWolf joshwoodcock
@joshwoodcock, market will tell :).
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1st target 14k.

here i provide two forecasts.

snapshot
Antworten
So do you see bitcoin possible hitting ~$8,300 in the next coming days?
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IamCryptoWolf NestorBarajas
@NestorBarajas, based on WW model i think we have bottomed at point 5.
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imo, Btc is just retesting the previous support and then will go down further.
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