user100000
Long

looking forward... primary wave 5 / cycle wave III target

BITSTAMP:BTCUSD   Bitcoin / Dollar
3494 17 24
the channel lines tilted few degrees down because of the recent drop so the primary wave 5 target to be conservative also dropped a bit. but could easily spike to 7K or 8K. 5256 is the minimum where wave I=wave III             so once the market climb above 5.2K one should be alert if you are a short term trader and try to hedge your position
pumapunko PRO
2 years ago
Your charts always make me smile. You're one of the few people able to see the bigger picture in a forest full of permabears!
+4 Reply
RamaDeda
2 years ago
I'm with you man!
+3 Reply
oaksacorn
2 years ago
Nice Work user100000. The larger wave count that you have embraced is interesting. I like it. Nice job on adjusting the count/math for the upcoming 3 wave projection. I like the 7400 level for some reason. All intuition at this point but this count could get us there.
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mirmiri62
2 years ago
Can you draw your graph for shorter time for example 10-15 days ? I like your graphs although you correct it a lot.
by the way, I enjoy and always respect. I do not know why some people disagree with you and they comment in all your graphs :-)

so eager to see your further predictions
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Lanmar PRO
2 years ago
You'll be disappointed..
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IEC
2 years ago
I like your idea and I wish BTC would go up again but you´ve drawn your channel wrong. Use the lows of 2013-07-07 and 2013-10-02 and the top of 2013-04-09 in a logarythmic chart. You will see that the price broke the channel on 2014-12-16 and is on its way down.
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user100000 IEC
2 years ago
i used elliott wave style channel. channeling only same degree waves. connecting 2-4 and touching 3 give you approx target of the limits of 5........ it's all invalidated anyway as wave 4 moved into wave 1. it's not a standard impulse wave anymore but an expanding diagonal similar to silver
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I'm no Elliotician, but that certainly doesn't look like a wave 1 and 2 (I-II).
The rest, not likely in my humble opinion.
+1 Reply
user100000 IvanLabrie
2 years ago
wave II was a crash similar to 1987 stock market crash. it deserves a cycle degree wave. anyway it's no longer a standard impulse wave but a more "crazy" expanding diagonal similar to silver
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IvanLabrie TOP user100000
2 years ago
How would you trade this?
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Lanmar PRO IvanLabrie
2 years ago
You don't trade this. Potentially a buy at $130 .. I prefer $100.
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user100000 IvanLabrie
2 years ago
you buy at any level and wait for 3K
+1 Reply
NickCoulby PRO IvanLabrie
2 years ago
Straight silly looking from an EW standpoint..
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Lanmar PRO NickCoulby
2 years ago
Analysis does not conform to elliot wave principles as user1000 describes. Silly is an understatement.
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user100000 Lanmar
2 years ago
it is an expanding diagonal now. 1 & 4 overlap. target is revised to ~28,000 USD.

1000+ was considered silly when bitcoin was trading in the single digits.
+1 Reply
Maddie
2 years ago
We nailed it!!
+1 Reply
Im thinking when we get around 300 level well dump like the previous Nov 12 2014 pump and dump, possibly testing the current bottom or hitting around 100-130. Thanks for your wave counting, like to learn from your charts.
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