BTCUSD is still very strong in Weekly timeframe .
It seems we are within a iii of a larger wave 3 which will end soon in the 3000 area.
Once the correction ended (wave iv), we should close the sub-cycle and larger wave 3 at 8000 (set for now but may change).
For the final wave 5, my guess is it will end in a diagonal. But we are not here for now...
It seems we are within a iii of a larger wave 3 which will end soon in the 3000 area.
Once the correction ended (wave iv), we should close the sub-cycle and larger wave 3 at 8000 (set for now but may change).
For the final wave 5, my guess is it will end in a diagonal. But we are not here for now...
Komen:
Komen:
We are ending the wave 3 @ ~20k
The wave 4 should end at the top of wave 3 which is also 50% retracement.
The wave 4 should end at the top of wave 3 which is also 50% retracement.
I think you can check the trend on MTgox before August 2011, to me that's much like cycle wave I.
Balas
@bamboodian, the idea is that the i is a leading diagonal. You can find sub-cycles in it.
Balas