BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
559 11
im looking for a double bottom for the final fifth wave of c of (y)
Is this idea still valid with 9222 being broken?
user100000 robinson-h
@robinson-h, no, we are have just finished the main wave 4 correction. i wrongly assumed market was in wave 5 already... it now is however
I subscribed Prechter's cryptocurrencies and his count (actually not his personal, but his employees) is almost the same as the following count of @ew-forecast

Actually it is even more bearish and calls for wave 4 bottom at 7500 area.
mmitkevich mmitkevich
Here is reproduced precther's count

@user100000, I wonder what is your opinion now.
user100000 mmitkevich
@mmitkevich, their wave 4 wasn't a triangle .......moreover you can calculate the wave 5 target as it develops more accurately
Are these structures difficult to count with great degree of certainty? Looks difficult to me.
@Viking83, its very, very subjective. most EW stuff is garbage imo. Wykoff model sure, but the script of EWs, meh. User100000k did well on the run up in the bull, but back a few years ago in bear, it was pretty bad.
Looks good. I have continuation triangle with one more down to make div on RSI and then rocket

+1 Reply
user100000 DeadSerious
@DeadSerious, ok but in my count the market has to stay above 9222
+1 Reply
DeadSerious user100000
@user100000, my red line down is only for showing direction
+1 Reply
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