CFcryptoTA

BTC Corrective wave

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BITSTAMP:BTCUSD   บิทคอยน์
I personally believe BTC is in the corrective wave after wave 1 (started on the 21st of July). If you were following me you may have entered in the low 44 high 43 when I posted the chart BTC bounce relief. So everything is moving according to plan. In this chart, I drew out Elliott waves from the primary to the micro wave action. This is to show you that Elliott Wave works in any timeframe. Human psychology is the same and constant in the markets. I am expecting a good reaction at the 46200 to complete wave B (3 waves) with the target set at 51050 k. I will exit there with around 20 - 30% of my portfolio expecting BTC to do the last retracement at the 0.5 fib retracement level at 39300 (normal target for corrective wave 2). I will re-enter heavily at 39 expecting fireworks till 102k. The 39300 is the 0.5 fib level of the July low till the high in September, it is also the 1.2 target of wave C with wave B terminating at 51050.
I know some of you might say, what if this is the start of wave 3 and you exit at 51? I am planning to re-enter if the 52k level is violated and a daily open and close over that resistance. I am willing to risk 1-2% profit to possibly have cash ready to buy the dip at 39 - 40k. The volume on this move is too low in my view.

I was thinking to do a live/webinar explaining in detail Elliott Wave theory, how to apply it with chart examples.
would that be something you are interested in guys?
FOLLOW ME, SHARE, LIKE and COMMENT to let me know your opinion and if you would like me to do some live streams.

CFcryptoTA
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