Tag: Hourly

Aug 11

Bitcoin / USD Hourly Wave Count – August 11th, 2014

Bitcoin price is still in a Minor 2 correction, as outlined in the hourly chart below. The price movement since the recent high at 658 has not been extremely impulsive to the downside, as I would expect for a (c) of Minor 2 move down as was proposed in the latest wave count on July …

Continue reading »

May 19

Bitcoin / USD Wave Count Update – May 19th, 2014

Bitcoin price has been difficult to count and indecisive for the past month. Let’s start this update by taking a look at the daily chart for clues on the current trend. I notice the following important points from the daily chart. Price has failed to stay above the 21 day EMA (listed on top left …

Continue reading »

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. …

Continue reading »