cdlsrm

Bitcoin log supercycle

BITSTAMP:BTCUSD   Bitcoin / Dollar
410 8 3
This is what I think about future, past and present we are currently facing.

Related Ideas

oaksacorn
a year ago
Spot on with your larger count. Disagree with your make up of the larger 2.

Corrective patterns fall into four main categories:

Zigzags (5-3-5; includes three variations: single, double, triple);

Flats (3-3-5; includes three variations: regular, expanded, running);

Triangles (3-3-3-3-3; four types: ascending, descending, contracting, expanding);

Double threes and triple threes (combined structures).
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cdlsrm oaksacorn
a year ago
Hi,

according to this: http://thepatternsite.com/EWZigzag.html we have a zigzag

and it is 5-3-5 look here
snapshot


also according to thepatternsite:

"Zigzag Wave Rules

The zigzag has rules that govern its shape. They are listed here.

The zigzag is an ABC correction of the motive wave.
The pattern follows the 5-3-5 subwave configuration.
**Subwave B falls well short of the start of subwave A.**"

So to make "Subwave B falls well short of the start of subwave A" wave b has to be where it is, and I think that wave c is just a massive extended one.

If you disagree with me thats fine but than how do you expect all the weakness in the market (I assume your a-b-c has ended)? We are dead cat bouncing all the time and we are making lower lows.
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oaksacorn cdlsrm
a year ago
I understand where you are coming from. I don't necessarily disagree with your count....but I can speak from my gut that the count 5-3-5 will not resolve or finish. I listed the options for anyone reading - not you. What I am really saying is that "I" find corrective pattern breakdowns a pain in the ass and I am looking for this 2 to be over but I am always open to good work like yours. Yes, you have a zigzag laid out - one of the options listed. Good stuff. My gut says that this 5-3-5 does not finish with a good clean pattern (this does happen by the way). My gut and my gut only is what is disagreeing with you. It is a great chart. Nice work.
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cdlsrm oaksacorn
a year ago
I may not be correct, since we are analizing future based on past assumptions. But before we break 400$ I will remain bearish, after that I probably shift to being perma bullish. Currently 400$ seems almost unreachable, BTC failed so many times this year to reach that level, and last rally could take us really high but also failed. Shorting the tops is for me still a more reasonable option than buying the dips.

I also apologize for my english.
+1 Reply
oaksacorn cdlsrm
a year ago
I assume your a-b-c has ended... :-)....no Sh*t. Well said. Yes, I am looking for that 8/25 low to be a higher low. We shall see.
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oaksacorn
a year ago
So at this point, I do not think we take out the low in January and for that matter I do not think we take out the August low.
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Kappy PRO
a year ago
@cdlsrm Is there a reason you prefer an A-B-C zigzag to a W-X-Y-X-Z double zigzag pattern? Would be interested to hear your opinion.

https://www.tradingview.com/chart/BTCUSD+BITSTAMP:BTCUSD)/2/TOt1sVm6-Elliott-Wave-the-Bitcoin-Fork/
Reply
cdlsrm Kappy
a year ago
Hello, the main reason is that I like to keep everything as simple as possible. Double zig zags are less common patterns, and I like to treat it just like an extension to wave 3. I think there is also not much difference in our interpretations, we both are waiting for last down wave, you for Z and I for 5.
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