It's Time for an update.
Bitcoin has completed wave "W" of "E" of IV and now we are to rise in wave "X" of "E" before final descent in wave "Y" of "E" .
Usually wave "E" retraces around 70% of wave "D". So, for this count to stay valid we shouldn't be going much lower in wave"Y" than we have already done in wave "W" and therefore I'd expect wave "X" to retrace almost entirely wave "W". In absolute terms I expect wave "X" to retrace back to around 9K before the final decline to complete the super cycle wave IV.
The rest of my currency set will be updated on ad hoc basis.
is this count invalidated?
Hey Srezz.. whats up? =)
Thank you for the update.
edit sorry misread your previous chart
I maintain ABCDE count for more than 3 weeks and don't see it ivalidated
I hope you are well srezz, havent heard from you in a good bit
Is there a chance to break to the upside at wave X, or is it most likely gonna make it down again for the Y. most ppl seem to have the lines drawn in a symmetrical fashion from the low, your red lines are parallel going downward, it seems you are expecting one more touch to the top of that channel and one more touch on the bottom to end that 'super cycle IV', after that would be the next bull cycle assuming no major breakdowns? thanks for the update!
probably most ppl do not realize that a symmetrical triangle that follows a falling wedge implies an "abc"formation with targets of wave "c" well below zero.
https://www.mql5.com/en/charts/8742786/btcusd-d1-simplefx-ltd
Long time no see. Holidays?
Hi Sreez,
When you say "complete the super cycle wave IV" and looking at your graph do you mean it'll go down to below $5,000? In which case thats another lower low...which means you're calling back your earlier call of "end of correction"?
Thanks
I probably should not be revealing my working lines and levels. Yes, it's possible if the current ABCDE formation gets invalidated and morphes into something else. For such a development the correction must be extended well into 2019.
Hi srezz,
Could you comment on any possible rebound targets or is it still too soon?
Thank you very much.
Hi Srezz,
What's up?
Do you still think it will go up to 9.000 before a drop to 5.000 or is it already going tot 5.000?
Thank you for helping!