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Bitcoin & CryptoCoins for Kenya
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Sober
#511 Posted : Thursday, August 25, 2016 9:52:02 AM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
mnandii wrote:

1 Hour chart. Wave (i) complete. I expect a small upward retracement for wave (ii) which should not exceed $603.71 then a strong continuation of the fall in wave (iii).


Bitcoin has stayed in the $550-590 range for a while now. Is uit a high time we switched to the other cryptocurrencies like Lithium that are more volatile.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Sober
#512 Posted : Thursday, September 01, 2016 10:30:13 AM
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Joined: 11/27/2007
Posts: 3,604
$575
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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mnandii
#513 Posted : Tuesday, January 17, 2017 6:07:22 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304



I have never been convinced that bitcoin can manage a major rally past $1200 before taking out its previous low of $145 (here labelled as wave [A]). Two rallies that bitcoin has attempted since hitting the major low of $145 have ended up being fakes (and crushing several traders at the same time). The recent rally to $1130 appears to have completed wave [B] which is composed of a zigzag (A)(B)(C). Wave II (composed of [A] & [B] and a developing [C] now appears to be a flat correction.

My expectation for now is for bitcoin to fall to about $131 level before the start of a wave I I I advance. If that happens thenn wave [C] will equal the length of wave [A] ( as expected of the relationship between waves A and C of Flats).

I'll endeavor to post short term charts soon.

You can find same analysis here
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#514 Posted : Tuesday, January 17, 2017 6:31:15 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
BITCOIN: CORRECTING IN WAVE (2)



As stated in my BITCOIN: BEARISH ON THE MONTHLY CHART analysis, I am bearish long term. However in this Weekly chart, bitcoin is attempting a rally to complete wave (2). I don't expect the dashed RED line to be surpassed to the upside (that would invalidate the wave labels and would require a review of the wave structure). Wave (2) will likely end at $1010 level before bitcoin falls hard in wave (3). A closer look at waves (1) and (2) will be posted soon.

Same analysis here

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#515 Posted : Tuesday, January 17, 2017 6:56:36 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
BITCOIN: CLOSEUP LOOK OF WAVES (1) AND (2)



As can be seen here, bitcoin is rising in wave (2) which should not reach the dashed RED line. That is our line in the sand which, if broken, will require a review of the wave labels.

Wave (1) down ended at $810 (the point marked (1) ). Wave (2), which is composed of red-coloured waves A, B and a developing wave C. This wave (2) appears to be forming an expanded flat correction whereby wave A is composed of three waves, wave B is composed of three waves and goes beyond the start of wave A, and wave C should have have five waves.i.e a flat is a 3-3-5 pattern.

I stated that I expect wave (2) to end at about $1010 level. This is because of the two lines (see the small arrow) which are clustered together depicting a Fibonacci cluster zone. NB: Elliott stated that the Fibonacci ratio is the basis of the Wave Principle which depicts mass human psychology.

-The blue line is the 61.8% retracement of wave (1) while the pink one is twice the size of wave A (in red) and added to the low of wave B (at about $750).

This gives a general target of $1010.

See Here Too
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#516 Posted : Wednesday, January 18, 2017 7:51:44 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304


I have added more wave labels to depict the subdivision of wave C. Wave [i] and [ii] are in place. Wave [iii] is developing and I expect bitcoin to rise soon to about $990 level.

link
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#517 Posted : Thursday, January 26, 2017 5:16:35 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
mnandii wrote:


I have added more wave labels to depict the subdivision of wave C. Wave [i] and [ii] are in place. Wave [iii] is developing and I expect bitcoin to rise soon to about $990 level.

link


BITCOIN: RISING IN BLUE WAVE (v) OF [iii]




Expecting the bitcoin move to $990 soon to complete wave [iii]

link
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#518 Posted : Tuesday, February 07, 2017 5:22:21 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304


We are there! Bitcoin has made the minimum retracement required of wave (2). The next wave should be sharp below $1000 soon.

link
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#519 Posted : Thursday, February 09, 2017 7:12:04 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
mnandii wrote:


We are there! Bitcoin has made the minimum retracement required of wave (2). The next wave should be sharp below $1000 soon.

link


Bitcoin is back below $1000 as we had anticipated.


Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#520 Posted : Saturday, February 11, 2017 9:34:56 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
SHORT
BITCOIN: BEARISH IN WAVE (3) WITH A TARGET OF $543



Bitcoin rose as we had anticipated in wave (2). Wave (2) ended at about $1075. We are now firmly bearish . Bitcoin should fall in wave (3) with an initial target of $543.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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