ChartArt

A wave chart pattern observed in nature (Wyckoff, Elliot)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The great thing in Bitcoin             is that everything moves very naturally without much or any chart manipulation from cutting edge Wall Street strategies. So you can see how a classic chart pattern naturally forms. Especially after the market hit 100% of the selling climax in the currently analyzed time-frame.

I was watching this uptrend wave unfold since "Spring" (I pondered to buy down there) and then with more confidence bought somewhere between breakout and throwback and sadly sold already too early in the third move up in the re-accumulation zone, because I had just started to look at this in this way after the fact, after the correction of wave 5 started.

I have added more text in the newer version here. Please take a look :)

/// Be aware this is my own rough interpretation of Elliot Waves and the Wyckoff market cycle, not following their strict rules. ///
Wave 3 can never be the shortest of the three impulse waves. Mutation alert.
+1 Reply
ChartArt oaksacorn
As I wrote above in my main text. Be aware this is my own rough interpretation of Elliot Waves and the Wyckoff market cycle, not following their strict rules.
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So where do you think C wave down will take us before we begin the next cycle up?
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ChartArt rivet.popper
It seems "wave c" ended at $222.22 on Bitfinex
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Nice rendition. The line segments 1-4 were looking like a correction from the previous down move (on a scale one step up). But then the market accelerated and 5 turned it into an impulse. Always tricky to detect or define a wave. They can combine and transform, as we often "Observe in Nature".
+1 Reply
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