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Bitcoin's Future Shape: $13000 and $120k

BITSTAMP:BTCUSD   Bitcoin / Dollar
Currently we have just finished a major market bull move (2-1200) and its subsequent bear move correction (1200-150). No new lows for 9 months. The bear market is over.

Now we are in a quiet, flat period of quiet. Quite similar to that of April             2012, not only in price action but more importantly in popular sentiment. Bubble fever is emotionally dead, people at Bitcoin meets and conferences no longer gush excitedly about financial success.

Fractal self-similarity shows that if this is indeed 2012 deja-vu, the future price path shall take us to $600 within 1 year (wave 1), $13000 within 2 years (wave 3) and possible wave 5 extensions after that.

Recall my previous Elliot Wave possibility of $120k.
Trade active: Update: Price is following the prediction very nicely.
Trade active: 639 USD, the prediction has been followed very closely to this point.
Comment: Incredible profits from this trade. Spent a bunch partying in the French Riviera and Monaco. Hopefully you all had similar success.
Trade active:
snapshot


Elliot wavecount update.

As time passes the chart reveals further information. Allows a more accurate measurement.

Measurement of price and time ratios, logarithmically, of Wave 1:Wave I, Wave 2:Wave II, Wave 3:Wave III and so on, as well as measurement of price and time ratios of Wave i:1, ii:2, iii:3, and i:I, ii:II, iii:III, all come to a convergent conclusion.

We just finished wave 1 of III, and are currently in wave 2 of III. Locate the previous instances of wave ii of 3 for possible structure. Clearest examples include November 2010, August 2011, June 2016. That is, a shallow correction of the rally, followed by a low volatility multimonth consolidation with slightly higher lows. A proportional target would be $1800 today, but don't bet on it. It might bottom much higher.

After this multimonth shallow bear trend is over, we continue to wave 3 of III, similar structure to historical iii of 3. Analogous movements in the past would include January-April 2013: The great $266 bubble. As this movement begins and validates this wavecount, Gentlemen put on your space suits, we are going on LUNAR EXPEDITION.

Using BTC-e unmanipulated price and time measurements, I announce these calculations, proportional to time and price ratios.
Today we are in wave 2 of III.

Wave 2 of III bottom: 1800 or above. Will be multimonth.

Wave 3 of III top: 9001. Will be multiyear.

Wave 4 of III: Too early to call

Wave 5 of III: This may fulfill the prophecy of $40000, or even $130000 directly if this wave 5 extends to pure euphoria. Possible, with insititutional investors like Goldman Sachs joining the party.

Wave IV: This would be analogous to the April-July 2013 period post-bubble. Extremely fast crash, emotional capitulation within months. And it's all over quickly, with most participants sold out. Many will await lower buy targets that never get filled, not realizing wave V is already underway.

Wave V: This is it, the mother of all moon rockets, Andromeda Probe, the Supermassive Black Hole Timespace Continuum E=mc2 Universe Annihilator, Analogous to the $1200 rally of 2013 but bigger, faster, and more aggressive. This is when it happens, this is when BTC and GOLD can flip, this is when BTC can become a reserve currency, and $130k may be too modest a prediction. But even magic is eventually grounded in reality, and EW extrapolation calculates $130k.


Bitcoin_vanka's similar analysis:
Comment: Two analysis were posted by other EW counters, both of which draw corroborating conclusions.

The legendary Bitcoin_vanga, Masterluc (bitcointalk), Pentar_Hudi(tradingview), he famously sold at $223 at the $266 bubble, and $1100 at the $1200 bubble. He predicted the multiyear bear in 2014 to the protest of all other traders.
https://vk.com/bitcoin_vanga

Sergey Zinenko, started counting waves since 2011. His calculation of 2013's bubble was so outlandish back then that even he doubted its veracity. But as history reveals, EW proves correct.
https://bitnovosti.com/2017/05/22/the-fractal-relationship-between-bitcoins-first-two-bubbles-and-what-they-might-tell-us-about/
2 years later...and i still use this as my go-to when contemplating a trade. price target/timing not completely accurate, but that is actually irrelevant since theory is still accurate.
+1 Reply
Well we were supposed to be at 12k almost a year ago, now you've changed the chart, pricepoints and target prediction and we're all supposed to just believe it? Come on man, admit that EW is BS.
Reply
What about this? https://media.consensys.net/why-the-gdax-ether-flash-crash-isnt-surprising-and-what-it-means-for-crypto-2618c98779f6
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See BCN coin Poloniex
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so? what append?
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A bit slower, but we're getting there.
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BTC is looking more and more bullish by the day. Can we get an update here on your EW targets?
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wrong chart dude.. try again
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Very nice analysis
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Miami for me, your wine was probably better.
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