BTCCNY - Microsoft News Coincided with Start of Wave 2 Short

Description

⋅ Dec 11, 2014 7:07 AM

Here's another contrarian post to follow up my previously partially incorrect post.

At the completion of Wave 5 of 5 of 1, the news re Microsoft accepting Bitcoins was released, thereby initiating Wave 2 up.

See cryptocoinsnews.com/microsoft-now-accepts-bitcoin-bitpay/
See commerce.microsoft.com/PaymentHub/Help/Right?helppagename=CSV_BitcoinHowTo.htm

I'm curious what effect it had on the market prior to the official news release, if any.

I'm also curious if MFT timed the news to coincide with the end of this Wave 1 considering (i) the odd time the news was released, (ii) the fact that there was no forewarning or leaks of the news (unlike the PayPal rumors), and (iii) the fact that it happened was right around the 340 (2080) support levels. But I'll have to take off my tin-foil hat, for now...lol.

Interestingly, Wave c of this Wave 2 spike was about 2.618 of Wave a (of this Wave 2) and, at the same time, the Wave 2 retracement was .764 of my Wave 1. These two figures coinciding seems to confirm my Wave 2 hypothesis but only time will tell since EW is only probablistic and not deterministic.

Bitcoin (Cryptocurrency)Cryptocurrency Elliott Wave microsoft

Comments

Unapologetic_Capitalist

⋅ Dec 11, 2014 7:14 AM

I expect to see this top tested some before Wave 3 really gets started.