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RE: Bitcoin BTC Feb 22 - Technical Analysis Update - Major Resistance Ahead

in #bitcoin7 years ago (edited)

Hey Philakone, thanks a lot for all your great lessons and consistent efforts towards improving your followers trading. I have learnt immensely from you in the last 2 months. Kudos!

On the hourly charts of BTC, I have been verifying a slightly different count. On two occasions recently this count has worked.

Would be great if you can debunk it based on any unacceptable EW rulebreak.

btc_feb_uptrend_count_3.png

Edit: Feb 23, 00:00GMT. BTC bounced off the 9600 range after completing the WXY as you mentioned and it also successfully broke out of the downtrend channel @ around 10200. The theory am testing is verified once again, as in the count I have shown above the 618 region of wave 3 is right near the 9600 range. Maybe we are gonna see a wave 5 and not a new wave? We should know in a few days, as after 5 the retracement would be larger than what we would expect with the new wave. ?!