April 2014 archive

Apr 22

Bitcoin / USD Wave Count Update – April 22nd, 2014

Bitcoin price has been range bound after the recent rise to 548. The overlapping wave structure and shallow price movement suggest that the wave count is still in wave iv-(1). Wave iv is playing out as a descending triangle where price moves sideways as technical indicators move lower in preparation for the next move up. …

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Apr 16

Bitcoin / USD Wave Count Update – April 15th, 2014

Bitcoin price has made a strong recovery from the low at 339.79 on 4/10. My current wave count has Primary Wave 4 (P4) ending at 339.79 at the 70% retrace of P3. This means that the Primary Wave 5 uptrend has started. Refer to the links below for the updated daily and 15 minute chart. …

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Apr 04

Bitcoin / USD Hourly Wave Count – April 4th, 2014

I finished the lower degree wave counting on the hourly Bitcoin chart. Linked below is a zoomed in view of the daily chart linked in my earlier post, which shows that Bitcoin price is working on a final C-[Y]-P4 move down. My hourly chart shows the details of this final C-[Y]-P4 move down. The moves …

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Apr 02

Bitcoin / USD Initial Daily Wave Count – April 2nd, 2014

My initial Elliott Wave count for Bitcoin marks the price drop from the all time high as a Primary Wave 4 (P4) correction. P4 is moving down in a double zig-zag corrective pattern, as labelled in the daily chart below. Major [W] is comprised of a three wave A-B-C move down. This is followed by …

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