BTC/USD - Elliott Wave - Wave 5 of C, dump to 4817.5 USD and ret
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Interpretation of Bitcoin Charts by Elliott Wave
- In chart D, Bitcoin completes wave 1 with 5 waves expanding, target of peak reaches $ 19,900 on Bitfinex trading on December 17, 2017. I denote the wave (I)
- Since then, Bitcoin has entered 3 wave correction cycles:
A cycle of 3 waves (a - b - c) starting from December 17, 2017 to the end of February 6, 1818, Bitcoin decreased to $ 6081.6, losing 69.03% of the value.
- X-Cycle - Beginning 06.2.2018 to the end of February 20, 1818, Bitcoin increased the rhythm of X-coupling from 6081.6 USD to 11815 USD, reaching nearly 100% of the value
Cycle B of 3 waves (a - b - c) starting from 20.2.2018 up to now and not finished, Bitcoin decreased from 11815 USD. Let's analyze this cycle in the H4 wave diagram
* Waves (a) Beginning on February 20, 2018 to April 1, 2015, this wave of 5 waves of the 40 day losing wave lost 44.7% of the value from $ 11815 to $ 6479.5.
* Waves (b) starting from 01.04.2018 to 05.05.2018, this wave increased the correction of three waves in 34 days reached 55.23%, value increased from 6479.5 USD to 9994.3 USD
* Waves (c) starting May 5, 2015, now reaching 65 days, updated at the time of writing, caused a loss of 35.46% of the value
- According to the Elliott wave theory, Bitcoin is correcting the DZ wave in the cycle, so wave C of this correction cycle B will be the last wave in the correction wave region.
Let us consider wave C to find the bottom of Bitcoin in this correction wave
+ Wave C runs 5 wave impulse IM, i denoted by (i) - (ii) - (iii) - (iv) - (v)
+ At wave (i), Bitcoin lost 5 waves 1 - 2 - 3 - 4 - 5 from 05.5.2018 to 29.5.2018 and lost 28.46% of the value, from 9994.3 USD to 7054.4 USD, ie 23 days
+ At wave (ii), Bitcoin gained 3 waves from 29.5.2018 to 03.06.2018, 5 days, from 7893.3 USD to 7772.7 USD, reaching 8.72% of the value
In wave (iii), Bitcoin dropped 5 waves from $ 7773.7 to $ 5780.7, losing 25.45% in 21 days.
Wave (iv), Bitcoin gained 3 waves (abc with run-elapsed C) and peaked yesterday, 08.7.2018 with target 6820.9 USD on Bitfinex, reaching 18.41% in 13 days and in Today, as you can see, the BTC has started a new downturn (v) - and if nothing changes, Bitcoin does not run TZ, this is the Final Cycle in the Wave II correction trend of D of Bitcoin in the third cycle of 2017 - 2019!
Let's take a look at the wave (v) and determine the trend of Bitcoin in this short span
In Cycle D, you can see that Bitcoin has FR 78.6 reaching $ 4668.8 - This is one of the hardest support levels at the moment.
According to IM wave theory, this wave (v) can not be longer than wave (iii), because wave period (i) is $ 2900 longer than wave period (iii) is less than $ 2,000. Most of the wave (v) (can) reached $ 4817.5 (mark FE 100). The minimum threshold of this wave has to be 61.8% wave (iii), I mark this milestone as FE618 with target 5600 USD.
+ I divided this wave into 5 waves running IM, predicted the small wave of this wave will be as follows:
* Waves (1) fell from peak 6820.9 to 6255.9 USD
** Wave (2) adjusted to 6586 USD
*** Waves (3) continue to decline to 5600.5 USD or more, reaching the target 61.8
**** Wave (4) corrects to $ 6150.5 or less
***** The wave (5) decreased towards the end of the FE100 target reached 4817.5 USD
* In case the wave (3) fails to reach the target, I will adjust the Buy level at FE618
- This process will take place in 21 days, from 08.7.2018 to end on 29.7.2018
- Based on the current Altcoin situation, I also expect Altcoin will correct a slight increase and then reduce it by 30-50%, to target the bottom within a 1 week gap compared to Bitcoin. (may be earlier or later) (Excluding altcoins that go unmoved by Bitcoin value fluctuations.
- I will update the next Bitcoin news later, like and share if you love us
- On behalf of Tradecoinplus we would like to make a wise decision, confident in order, preserve capital, do not forget to place Stoploss for each buy or sell order, and prepare carefully before
- In chart D, Bitcoin completes wave 1 with 5 waves expanding, target of peak reaches $ 19,900 on Bitfinex trading on December 17, 2017. I denote the wave (I)
- Since then, Bitcoin has entered 3 wave correction cycles:
A cycle of 3 waves (a - b - c) starting from December 17, 2017 to the end of February 6, 1818, Bitcoin decreased to $ 6081.6, losing 69.03% of the value.
- X-Cycle - Beginning 06.2.2018 to the end of February 20, 1818, Bitcoin increased the rhythm of X-coupling from 6081.6 USD to 11815 USD, reaching nearly 100% of the value
Cycle B of 3 waves (a - b - c) starting from 20.2.2018 up to now and not finished, Bitcoin decreased from 11815 USD. Let's analyze this cycle in the H4 wave diagram
* Waves (a) Beginning on February 20, 2018 to April 1, 2015, this wave of 5 waves of the 40 day losing wave lost 44.7% of the value from $ 11815 to $ 6479.5.
* Waves (b) starting from 01.04.2018 to 05.05.2018, this wave increased the correction of three waves in 34 days reached 55.23%, value increased from 6479.5 USD to 9994.3 USD
* Waves (c) starting May 5, 2015, now reaching 65 days, updated at the time of writing, caused a loss of 35.46% of the value
- According to the Elliott wave theory, Bitcoin is correcting the DZ wave in the cycle, so wave C of this correction cycle B will be the last wave in the correction wave region.
Let us consider wave C to find the bottom of Bitcoin in this correction wave
+ Wave C runs 5 wave impulse IM, i denoted by (i) - (ii) - (iii) - (iv) - (v)
+ At wave (i), Bitcoin lost 5 waves 1 - 2 - 3 - 4 - 5 from 05.5.2018 to 29.5.2018 and lost 28.46% of the value, from 9994.3 USD to 7054.4 USD, ie 23 days
+ At wave (ii), Bitcoin gained 3 waves from 29.5.2018 to 03.06.2018, 5 days, from 7893.3 USD to 7772.7 USD, reaching 8.72% of the value
In wave (iii), Bitcoin dropped 5 waves from $ 7773.7 to $ 5780.7, losing 25.45% in 21 days.
Wave (iv), Bitcoin gained 3 waves (abc with run-elapsed C) and peaked yesterday, 08.7.2018 with target 6820.9 USD on Bitfinex, reaching 18.41% in 13 days and in Today, as you can see, the BTC has started a new downturn (v) - and if nothing changes, Bitcoin does not run TZ, this is the Final Cycle in the Wave II correction trend of D of Bitcoin in the third cycle of 2017 - 2019!
Let's take a look at the wave (v) and determine the trend of Bitcoin in this short span
In Cycle D, you can see that Bitcoin has FR 78.6 reaching $ 4668.8 - This is one of the hardest support levels at the moment.
According to IM wave theory, this wave (v) can not be longer than wave (iii), because wave period (i) is $ 2900 longer than wave period (iii) is less than $ 2,000. Most of the wave (v) (can) reached $ 4817.5 (mark FE 100). The minimum threshold of this wave has to be 61.8% wave (iii), I mark this milestone as FE618 with target 5600 USD.
+ I divided this wave into 5 waves running IM, predicted the small wave of this wave will be as follows:
* Waves (1) fell from peak 6820.9 to 6255.9 USD
** Wave (2) adjusted to 6586 USD
*** Waves (3) continue to decline to 5600.5 USD or more, reaching the target 61.8
**** Wave (4) corrects to $ 6150.5 or less
***** The wave (5) decreased towards the end of the FE100 target reached 4817.5 USD
* In case the wave (3) fails to reach the target, I will adjust the Buy level at FE618
- This process will take place in 21 days, from 08.7.2018 to end on 29.7.2018
- Based on the current Altcoin situation, I also expect Altcoin will correct a slight increase and then reduce it by 30-50%, to target the bottom within a 1 week gap compared to Bitcoin. (may be earlier or later) (Excluding altcoins that go unmoved by Bitcoin value fluctuations.
- I will update the next Bitcoin news later, like and share if you love us
- On behalf of Tradecoinplus we would like to make a wise decision, confident in order, preserve capital, do not forget to place Stoploss for each buy or sell order, and prepare carefully before
註釋
BTC dump exactly 1st to 6260 USD
and will come back to 6500 USD soon
註釋
The BTC corrected another fib level, forming the last correction zone, which is currently heading to a low of 6129.5 USD, back to the wave zone (2).Target:
EP: 6129. 5 USD
TP: 6491.4 USD
TG: 6577.3 USD
Round 5 can extend to FR 78.6 is 5985.6 USD or FR 88.6 is 5878.5 USD (In case of very strong waves)
We will continue to update with you, do not forget to like and share if you like. Thanks
註釋
No change until now
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