BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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4
I think we're finishing an Eliot wave cycle off with a boom, hitting the 78% (approximately) retracement, and either starting a new cycle soon after, or more likely, go into a period of consolidation until the new cycle explodes. Eliot Wave Theory has been very prominent in Bitcoin Ever since its conception and it seems to want to continue its pattern.
Comment: Will continue and update as we move along in price action
Comment: looks like this idea actually panned out pretty well didnt exactly get the entry we wanted but the resistance was pretty damn perfect

Comments

good day,

i have one notice that wave 3 cannot be the shortest. you have to recount the waves again but really nice count
+1 Reply
TV-Ledge yanbu.ghost
@yanbu.ghost, Yes your absolutely right! The reason I used this chart anyway is because I've seen these rules can be bent, when dealing with different charts, and a favorable outcome can still be obtained.
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looking promising.
+1 Reply
TV-Ledge IONCHRONO
@IONCHRONO, Thanks! I'm a rather new trader and i think posting my personal analysis will help me learn and grow as a trader
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IONCHRONO TV-Ledge
@TV-Ledge, definitely, chart as many ideas in your head you can and see if they play out that way. ive seen alot worse calls from traders that have been around for ages.
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TV-Ledge IONCHRONO
@IONCHRONO, I'll take your advice, Thanks!
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Will continue and update
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