Bitcoin - Before the Bottom

17. Jan. 2018Chase the C leg of ongoing pullback. Its almost always a 5 wave count.

Exit at wave (4) : 11100...11750
Target for wave (5) : 8700

P.S. : Beware that rest of the exchange charts are a little lower than Kraken.

17. Jan. 2018

Kommentar

Wave (4) completed as expected. Sleep in fiat.
Wave (5) will be studied again as wave (3) is over-swinged.

18. Jan. 2018

Kommentar

Several unsuccessful attempts to break C leg. Its safe as long as H4 closes below 11832 (0.5 fib). Swing trade options start above that.

24. Jan. 2018

Kommentar

Stall on pivot line. As leg (4) swinged higher to (0.382 fib) upcoming leg can be lower than mentioned above.

24. Jan. 2018

Kommentar

Bulls are tired and unreliable. Risk/Reward is to high.

24. Jan. 2018

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25. Jan. 2018

Kommentar

TP @ 11650 --- Profit +1%

Too many resistances to tackle with, recent lower leg is damaged but still bearish.

25. Jan. 2018

Kommentar

Bears won for this leg.