Subwave sequence is 3-3-5 ((A))-((B))-((C))
The big picture wave count based on the initial primary degree five wave rise from the Mt. Gox price data, is that BTCUSD is correcting in an expanding pattern. Wave ((B)) is entering its final couple subwaves to complete an pattern for wave (C) of ((B)). When the new all-time high is registered Bitcoin price will begin to unravel in a 5 wave impulse over several months to year(s) to complete the ((A))-((B))-((C)) pattern. The wave ((C)) low will mark the end of cycle degree wave II.
The price of Bitcoin surpassed the price of gold. https://twitter.com/Schuldensuehner/stat...
Bitcoin has a market cap over $19 billion and the value of all above-ground silver stocks is $18.43 billion. https://twitter.com/flibbr/status/836915...
However, three different trade volume analyses reveal that while Bitcoin price has trended up to new all-time highs, volume has diverged since the previous price and volume highs. This suggests that the latest rally is not the start of a new trend but the weakening of a counter trend rally. People are getting excited – about new highs, Bitcoin has surpassed gold (price) and silver (market cap), and Bitcoin’s outperformance of the stock market when the stock indexes have also reached new all-time highs – it’s more likely time to take profits not buy in.
blockchain.info 7 day average volume
coindesk XBP price index volume
I do appreciate you sharing your chart. It really helps to see others ideas so we can see what may have been overlooked or didn't notice at all. You should publish some charts, I'd like to follow. I think we also learn to be more objective when we subject ourselves to the humility of being wrong.
TBH, I have come across a lot of EW chartists that got caught off guard too. I wonder why?
I am also with you on the rise up from $162. It doesnt look like a pure 1 - 2 -3 - 4 - 5 wave pattern (impulsive), but i have now seen 2 EW counts that count is as such. One of them was the one i share above.
The other i will share here then perhaps you can share your opinion.
This one is dated, it has payed out accurately.
This one published today.