BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
577 25 4
if you draw a channel around the same degree waves it can help you estimate wave five target

instructions: connect the lower channel wave two and wave four of the same degree and move the upper channel line to touch wave three. this will give you an idea of where wave 5 will likely end
jfun
2 years ago
i don't really see it, have you drawn it here? (sorry still learning!)
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user100000 jfun
2 years ago
yes there are 3 channels on this chart. the channel is 2 parallel lines surrounding some trending price action
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jfun user100000
2 years ago
ok, so i see the channel you are talking about now between ii and iv and iii, but how does this tell us where wave 5 should end up?
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user100000 jfun
2 years ago
5 should touch the upper channel
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Thanks, great to know, I'll study EW when j get time, for now seeing your work has helped in counting
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user100000 Noobincrypt
2 years ago
thanks for viewing. it takes few hours to learn ewp but applying it correctly takes some time
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johnrfraser
2 years ago
Nice work user100000. Some posts predict a drop to <220...could this happen and still retain your wave structure or would it have to invalidate?
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user100000 johnrfraser
2 years ago
unlikely to drop below the invalidation line. because wave 5 of C has completed convincingly as an impulse wave. bear is over
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johnrfraser
2 years ago
...sorry 1375 cny
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rivet.popper
2 years ago
Wave 5 reaches the target at what looks like around Feb. 6th. Does this still work in with the overall March 23rd timeline for the peak?
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user100000 rivet.popper
2 years ago
yes bitcoins should peak in late march. but could be just one of the many peaks along the way
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rivet.popper user100000
2 years ago
So we get 400USD around Feb 6th and then 6 weeks later we are at 28k USD? With the possibility of reaching up to 93k USD if it turns out this is actually Wave 3, not Wave 5? I think I need to change my shorts.
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rivet.popper rivet.popper
2 years ago
And I mean short pants, not short positions...
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user100000 rivet.popper
2 years ago
for now, 28K is more realistic by march 27th
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rivet.popper user100000
2 years ago
Looking at the charts today, even 1000 seems unrealistic... But thanks for your work in any case.
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user100000 rivet.popper
2 years ago
the reward to miners is decaying at exponential rate. price should rise exponentially
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jfun user100000
2 years ago
difficulty? difficulty is flat..
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user100000 jfun
2 years ago
i think because price of bitcoin is at cost of production and at break even level. this doesn't attract new investment until price moves much higher then difficulty will increase
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rivet.popper
2 years ago
So where are we now after this routing today? Is this part of wave 4 still or do we need a recount?
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Noobincrypt PRO rivet.popper
2 years ago
still 100CHY from invalid on huobi... btce got slaughtered, other one is still ok, i was away when the 10/21 emas crossed otherwise would have dumped... man was holding from around 250, rough day
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rivet.popper Noobincrypt
2 years ago
Ouch, sorry to hear that. I am still in the money from 192 but I'm an investor, not a trader. I'm waiting to see if this EW thing ever takes off. At least we're still in the valid zones for the original count.
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jfun rivet.popper
2 years ago
when i hit play on this chart it doesn't give me the full bars.. says we're still at 1585 which obviously isn't right.. is it just me?
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johnrfraser jfun
2 years ago
most of my charts are sticking tonight too :-/
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user100000 johnrfraser
2 years ago
it happens to me too occasionally. charts not loading properly etc
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user100000 rivet.popper
2 years ago
still wave 4. macd confirms the recent peak was wave 3
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