BTCUSD: Emergency update
We have a weekly time at mode uptrend failure, this is terrible news.
In my last chart I warned we could be declining sharply after what looked like a corrective structure completion ending on a truncated fifth wave, which did led to a sharp fall, but the timing was rather off.
It's possible this was due to the nature of btc, which is rather low liquidity, and possibly distorted the wave count's proportionality in time.
As for time at mode, I have a short signal, since we broke the mode, rgmov looks really bearish I'll try to short on a retracement asap.
This might be related to the Bitcoin XT consensus fiasco, which has been recently coming to light.
cointelegraph.com/news/114646/andresen-proposes-hard-fork-patch-for-bitcoin-xt-critics-remain-skeptical
medium.com/@octskyward/why-is-bitcoin-forking-d647312d22c1
We might be headed to 122-86. Yikes...
I'll update with a safe short entry.
Good luck!
Ivan.
In my last chart I warned we could be declining sharply after what looked like a corrective structure completion ending on a truncated fifth wave, which did led to a sharp fall, but the timing was rather off.
It's possible this was due to the nature of btc, which is rather low liquidity, and possibly distorted the wave count's proportionality in time.
As for time at mode, I have a short signal, since we broke the mode, rgmov looks really bearish I'll try to short on a retracement asap.
This might be related to the Bitcoin XT consensus fiasco, which has been recently coming to light.
cointelegraph.com/news/114646/andresen-proposes-hard-fork-patch-for-bitcoin-xt-critics-remain-skeptical
medium.com/@octskyward/why-is-bitcoin-forking-d647312d22c1
We might be headed to 122-86. Yikes...
I'll update with a safe short entry.
Good luck!
Ivan.
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