Crypto_Ed
Long

BTC, this is all I need

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
9368 views
71
I can make a long story and write the most fancy stuff.
But this is all I need.
Comment: For those whom are referring to Elliott Wave: Im not using strict EW as it is outdated in my opinion. Not labelling the swing in the middle as it is a smaller cycle in my opinion. I could have used it, but then the cycle should be drawn as a 7 or 9 legs cycle towards my target.
But in the end: I'm not here to teach you about EW. I'm showing you what is my idea which is a combination of my own TA and feeling/experience. I've made these predictions for BTC in the past and EW'ers laughed about them but in the end my charts were spot on. Maybe I'm wrong this time...who knows...I dont have a crystal ball.
So, please dont start a discussion about EW as this is no EW.
Comment: Update: some of you guys were right about the labelling.
I didn't count the smaller cycle in the middle.
But current situation shows that I should have counted it and makes this as a 5 legs cycles which completed, followed by a correction of that cycle in an ABC correction.
That correction is completed and we should start a new 5 legs up cycle which leads us to......same targetzone as before ;-)

Comments

First of all thanks for all of your charts Ed! However would you care to tell me why the high on the 8th of december doesn't count as a wave? (is it because the third leg has to be longer than the first?) Just trying to learn.
+3 Reply
G2Dolphin EdwardToussaint
@EdwardToussaint, probably, because it didn't touch support line?
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d3ssy EdwardToussaint
@EdwardToussaint, nice try man... @Crypto_Ed 's strategy is his own...and mysterious it must remain! ;)
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nunobispo EdwardToussaint
@EdwardToussaint, I had the same though and doubt about that point.
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edspiner EdwardToussaint
@EdwardToussaint, 2-3 (2nd wave) can't be the shortest - that's the only requirement for Eliot pattern. IMHO it should count as wave and the point ed marked as 3 is actually 5.
If i'm right we're still in for BC of ABC correction... time will show. Of course i don't see any reason why it wouldn't read 30k after that ;)
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Do people pay for your analysis?
+1 Reply
@zaumo, the question should be: "How do people pay for your analysis?" lol
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Crypto_Ed T0theMoon
@T0theMoon, they pay in BTC or LTC
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Why ignore the retracement of 7.8k to approx. 5k? That's in my eyes wave 2 already, this seems like the end of wave 5 and more like a ABC-correction (A already done, B going down right now and C incoming). Seems also a bit more logic if you look at the exponential growth of Bitcoin. But then again it's all speculations so who knows, I might be wrong as well :).
+1 Reply
Sixboost Shockinalive
@Shockinalive, Looks pretty normal and healthy to me? Smallest correction we have had to date.
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