Bullish count for BTC

2018年4月19日

Hi all,

I am still practicing the art of Elliot Wave; please comment if you believe this count to not be correct.

Firstly i will show you the logic of why i think we have bottomed out @ $6500; as well as the fundamentals of Pantera saying they belive that $6500 was the "likely" bottom. We then had the hightest 1hr volume candle in the HISTORY of BTC; for me this is a massive massive sign that a large institute believed we have bottomed too.

I think the next week is critical to really break out of the bear trend (which in my eyes has not yet been confirmed). A break above around $8450 should signal to those waiting that we are indeed bullish and more longs should be opened. If we can break through $8500 with conviction; i would hope lots of shorts will be closed and thus propell us higher.

I see our current up trend from the end of Wave 4 stopping shy of a 1:1 extension; there is heavy resistance around $9300. My personal target is just around $9000

If we reach my target; i will be taking profit with expectation of a correction back down to test $8500 again.


https://www.tradingview.com/x/p6uePqXT/
Count from all time high... this is why i think we have hit bottom

https://www.tradingview.com/x/9J2pXVIZ/
Count since March

2018年4月20日

註釋

As predicted; slowly etched up with higher lows and lower highs, forcing it to make a decision one way or the other.

So far the bulls remain in control and have pushed through $8500.... so far EW count is showing that we are indeed on wave 5 up.

I have reduced my personal target to around $8700 - $8800 due to length of wave 1. Wave 5 is typically 61.8%, 100% or 123.6% of Wave 1.

Expectation to correct back down to around $7750 - $8000 once next target it his but we will need to see how the waves form for a more accurate target.

2020年7月23日

交易結束：目標達成