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Bitcoin & CryptoCoins for Kenya
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mnandii
#501 Posted : Monday, July 04, 2016 9:12:44 AM
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Joined: 10/11/2006
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As I indicated earlier, my target for wave (2) was the $689 - $699 levels. Bitcoin did touch about $704 level and turned down immediately. Wave (2) therefore appears complete and I now expect a move to below $608 then below $540. You can be short with your SL at $704 and target a move to below $100 soon. I will be updating on the progression of the waves.

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#502 Posted : Tuesday, July 05, 2016 8:05:42 PM
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Joined: 10/11/2006
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Bitcoin having completed wave (2) at $704 fell to $640 making minor wave 1 (purple colour). Minor wave 2 (purple colour) also appears to be in place at $681. My expectation for a grand fall is still in place. Minor wave 3 (Purple colour) now is targeted at $577 (being a Fibonacci 1.618 times the size of minor wave 1) or $559 (twice wave 1) or $514 (Fibonacci 2.618 times minor wave 1). The halving will appear to have made bitcoin fall in price but remember we are dealing with human psychology which forms Elliott Wave patterns. Thus this prediction is made MINUS any fundamental (news) considerations and comes way before the major issue of bitcoin halving just to show that the market follows Elliott waves and not what most people consider to be fundamentals.
So we look to $577 level, then $559 and then $514 and further below.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#503 Posted : Wednesday, July 13, 2016 9:35:59 AM
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Been tracking the wave two corrections in bitcoin for sometime now. Purple wave 1 appears to be a leading diagonal and its wave 2 is complete just below the 78.6% retracement of wave 1 (i.e below $682). The third wave, strong drop is now imminent and should take bitcoin to below $500 and further down soon.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Sober
#504 Posted : Tuesday, July 19, 2016 2:54:36 PM
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Joined: 11/27/2007
Posts: 3,604
mnandii wrote:


Been tracking the wave two corrections in bitcoin for sometime now. Purple wave 1 appears to be a leading diagonal and its wave 2 is complete just below the 78.6% retracement of wave 1 (i.e below $682). The third wave, strong drop is now imminent and should take bitcoin to below $500 and further down soon.


$672 as we speak now
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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hisah
#505 Posted : Wednesday, August 03, 2016 5:17:41 AM
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Joined: 8/4/2010
Posts: 8,977
Sober wrote:
mnandii wrote:


Been tracking the wave two corrections in bitcoin for sometime now. Purple wave 1 appears to be a leading diagonal and its wave 2 is complete just below the 78.6% retracement of wave 1 (i.e below $682). The third wave, strong drop is now imminent and should take bitcoin to below $500 and further down soon.


$672 as we speak now

Currently trading at $547. Wave 3 in progress. Long way down.

Bitcoin Drops Nearly 20% as Exchange Hack Amplifies Price Decline
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#506 Posted : Wednesday, August 03, 2016 6:02:23 PM
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Joined: 2/26/2012
Posts: 15,980
hisah wrote:
Sober wrote:
mnandii wrote:


Been tracking the wave two corrections in bitcoin for sometime now. Purple wave 1 appears to be a leading diagonal and its wave 2 is complete just below the 78.6% retracement of wave 1 (i.e below $682). The third wave, strong drop is now imminent and should take bitcoin to below $500 and further down soon.


$672 as we speak now

Currently trading at $547. Wave 3 in progress. Long way down.

Bitcoin Drops Nearly 20% as Exchange Hack Amplifies Price Decline


These hackers will teach the world hard lessons
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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mnandii
#507 Posted : Thursday, August 04, 2016 10:17:50 AM
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Joined: 10/11/2006
Posts: 2,304
murchr wrote:
hisah wrote:
Sober wrote:
mnandii wrote:


Been tracking the wave two corrections in bitcoin for sometime now. Purple wave 1 appears to be a leading diagonal and its wave 2 is complete just below the 78.6% retracement of wave 1 (i.e below $682). The third wave, strong drop is now imminent and should take bitcoin to below $500 and further down soon.


$672 as we speak now

Currently trading at $547. Wave 3 in progress. Long way down.

Bitcoin Drops Nearly 20% as Exchange Hack Amplifies Price Decline


These hackers will teach the world hard lessons




Next leg down to below $400 imminent.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#508 Posted : Saturday, August 20, 2016 7:43:18 AM
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Joined: 10/11/2006
Posts: 2,304


As I've always maintained, I expect bitcoin to fall to below $100 a piece. This chart is the long term one. Bitcoin is falling in wave (3) of [.C] of II. Wave [.A] is a leading diagonal. Wave [.B] is a combination while wave [.C] ( fall from 782.12 high, the part labelled ( Y ) [B] ) is a developing impulse wave where waves (1) and (2) are complete. If bitcoin reaches to below $100 (as I expect), that will be your best opportunity to snatch as many as you can. Remember that once wave II completes , bitcoin will then make a sizable gain to beyond $2000 a piece.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#509 Posted : Saturday, August 20, 2016 7:48:27 AM
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On the 4 Hour Chart below we have a developing wave 3 of (3) which should end somewhere in the $400s.


Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#510 Posted : Saturday, August 20, 2016 8:02:23 AM
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1 Hour chart. Wave (i) complete. I expect a small upward retracement for wave (ii) which should not exceed $603.71 then a strong continuation of the fall in wave (iii).
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Sober
#511 Posted : Thursday, August 25, 2016 9:52:02 AM
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Joined: 11/27/2007
Posts: 3,604
mnandii wrote:

1 Hour chart. Wave (i) complete. I expect a small upward retracement for wave (ii) which should not exceed $603.71 then a strong continuation of the fall in wave (iii).


Bitcoin has stayed in the $550-590 range for a while now. Is uit a high time we switched to the other cryptocurrencies like Lithium that are more volatile.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Sober
#512 Posted : Thursday, September 01, 2016 10:30:13 AM
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$575
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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mnandii
#513 Posted : Tuesday, January 17, 2017 6:07:22 PM
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Joined: 10/11/2006
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I have never been convinced that bitcoin can manage a major rally past $1200 before taking out its previous low of $145 (here labelled as wave [A]). Two rallies that bitcoin has attempted since hitting the major low of $145 have ended up being fakes (and crushing several traders at the same time). The recent rally to $1130 appears to have completed wave [B] which is composed of a zigzag (A)(B)(C). Wave II (composed of [A] & [B] and a developing [C] now appears to be a flat correction.

My expectation for now is for bitcoin to fall to about $131 level before the start of a wave I I I advance. If that happens thenn wave [C] will equal the length of wave [A] ( as expected of the relationship between waves A and C of Flats).

I'll endeavor to post short term charts soon.

You can find same analysis here
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#514 Posted : Tuesday, January 17, 2017 6:31:15 PM
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Joined: 10/11/2006
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BITCOIN: CORRECTING IN WAVE (2)



As stated in my BITCOIN: BEARISH ON THE MONTHLY CHART analysis, I am bearish long term. However in this Weekly chart, bitcoin is attempting a rally to complete wave (2). I don't expect the dashed RED line to be surpassed to the upside (that would invalidate the wave labels and would require a review of the wave structure). Wave (2) will likely end at $1010 level before bitcoin falls hard in wave (3). A closer look at waves (1) and (2) will be posted soon.

Same analysis here

Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#515 Posted : Tuesday, January 17, 2017 6:56:36 PM
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BITCOIN: CLOSEUP LOOK OF WAVES (1) AND (2)



As can be seen here, bitcoin is rising in wave (2) which should not reach the dashed RED line. That is our line in the sand which, if broken, will require a review of the wave labels.

Wave (1) down ended at $810 (the point marked (1) ). Wave (2), which is composed of red-coloured waves A, B and a developing wave C. This wave (2) appears to be forming an expanded flat correction whereby wave A is composed of three waves, wave B is composed of three waves and goes beyond the start of wave A, and wave C should have have five waves.i.e a flat is a 3-3-5 pattern.

I stated that I expect wave (2) to end at about $1010 level. This is because of the two lines (see the small arrow) which are clustered together depicting a Fibonacci cluster zone. NB: Elliott stated that the Fibonacci ratio is the basis of the Wave Principle which depicts mass human psychology.

-The blue line is the 61.8% retracement of wave (1) while the pink one is twice the size of wave A (in red) and added to the low of wave B (at about $750).

This gives a general target of $1010.

See Here Too
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#516 Posted : Wednesday, January 18, 2017 7:51:44 PM
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I have added more wave labels to depict the subdivision of wave C. Wave [i] and [ii] are in place. Wave [iii] is developing and I expect bitcoin to rise soon to about $990 level.

link
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mnandii
#517 Posted : Thursday, January 26, 2017 5:16:35 PM
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mnandii wrote:


I have added more wave labels to depict the subdivision of wave C. Wave [i] and [ii] are in place. Wave [iii] is developing and I expect bitcoin to rise soon to about $990 level.

link


BITCOIN: RISING IN BLUE WAVE (v) OF [iii]




Expecting the bitcoin move to $990 soon to complete wave [iii]

link
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#518 Posted : Tuesday, February 07, 2017 5:22:21 PM
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We are there! Bitcoin has made the minimum retracement required of wave (2). The next wave should be sharp below $1000 soon.

link
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#519 Posted : Thursday, February 09, 2017 7:12:04 PM
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mnandii wrote:


We are there! Bitcoin has made the minimum retracement required of wave (2). The next wave should be sharp below $1000 soon.

link


Bitcoin is back below $1000 as we had anticipated.


Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#520 Posted : Saturday, February 11, 2017 9:34:56 AM
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SHORT
BITCOIN: BEARISH IN WAVE (3) WITH A TARGET OF $543



Bitcoin rose as we had anticipated in wave (2). Wave (2) ended at about $1075. We are now firmly bearish . Bitcoin should fall in wave (3) with an initial target of $543.
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