the_batman
Short

Bitcoin Elliot Wave Count & Projection (10/21)

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
298 13 2
UPDATE (10/23): We're currently in the final thrusts of the wave. Based on most recent sub-wave counts and some educated guessing, looks like the bottom will be $340-350. Could be as low as $330~.

Praise be to the wave! (If you didn't know, we're in the corrective phase of the massive wave that brought us here from $620~.)

The following chart lays out my elliot wave count for the present. Its primary purpose is to predict the length of the impending wave-3 down. (Context: We're in a ZigZag correction, see related chart.)

It's entirely possible that my innermost wave count is wrong (the blue) or will turn out wrong. The bottom line is that we know that the correction of the recent downwave from $620 is ZIG ZAG -type corrective wave because the A wave has 5 parts (and no other corrective wave type has a 5-parted wave). We can deduce therefore that there ought to be TWO full elliot waves (ie this chart) following the most recent high and also that a major upward movement will come afterwards.

It's also, indirectly, scorns in the impertinent false idols: triangle, bullish flag .
ChartArt
2 years ago
I'm also bearish now in the short-term, a day after you commented on one of my charts:
The Bitcoin Bears Are Back
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the_batman PRO ChartArt
2 years ago
I'm flattered by the plagiarism, lol.

(DONT WORRY NOBODY READS MY POSTS)

I forgot to commend your humility though. It takes a real man to admit he's new and doesn't know everything.
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the_batman PRO ChartArt
2 years ago
The third wave of the inner wave is about to start - the last real drop before it reverses and goes back up by $70-130 FYI. ;)
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ChartArt the_batman
2 years ago
If the price really sinks below $275 then I guess it goes down to $100-$105 where the yearly pivot point is.
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the_batman PRO ChartArt
2 years ago
I think we're talking about different things. I'm talking about the 3rd wave of one of the very many inner waves of the correction. The 3rd wave of the major wave (ie from $620) happened like a month ago. There's no indication whatsoever that a drop to $275 is coming. On the contrary, the indication is that an upward move of $70-130 is coming up next.
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the_batman PRO ChartArt
2 years ago
Correct me if I'm wrong*
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ChartArt the_batman
2 years ago
Ah, you mean an upward move of PLUS $70-130 added to the current price?
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the_batman PRO ChartArt
2 years ago
This keeps coming up. I made a chart for you :)
BTC ELLIOT WAVE: BIG PICTURE & COUNTING GUIDE
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ChartArt the_batman
2 years ago
Thank you. AO is great, I know.
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the_batman PRO ChartArt
2 years ago
Who cares about the AO!!!! The alligator is the most important development since RN Elliot released his papers. If the alligator models the elliot wave (ie discerns impulse and corrective waves), and elliot waves are made up of smaller elliot waves............. think about it.
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the_batman PRO
2 years ago
Update.. I keep calculating the innermost waves over and over to try to get a solid read. I have three possible scenarios: (1) we're about to see the inner wave3 projected on the chart (2) we're going to see some time before #1 (3) i've been wrong this whole time and the damn thing is an elliot wave triangle correction.
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the_batman PRO
2 years ago
UPDATE (10/23): We're currently in the final thrusts of the wave. Based on most recent sub-wave counts and some educated guessing, looks like the bottom will be $340-350. Could be as low as $330~.
Reply
the_batman PRO the_batman
2 years ago
final thrusts the wave* -- ie before begins
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