user100000
Long

Triangle update

BITSTAMP:BTCUSD   Bitcoin / Dollar
765 7 5
I believe wave (d) is still underway with the last leg being an expanding diagonal. The minimum target for such a pattern is 242.70 where 5>3. A reasonable level to end (d) is 243.18 where c = a*1.618
Bratash
2 years ago
Now we are talking, good job right there.
+2 Reply
ChartArt
2 years ago
I think that charting the future based on Bitstamp 5 minute prices is kind of pointless, because a) Bitstamp has no liquidity and b) the trends are made in China on OKCoin, with enough liquidity that 5 minute charts actually provide information and don't show lagging noise, but leading information.
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user100000 ChartArt
2 years ago
I'm sure you're right. Last time I tried counting BITFINEX the chart had spikes which violated EWP on many occasion so I didn't like that. I also tried counting one of the Chinese exchanges at some point but at the time I really could not understand the wave structure; it was gibberish to me. Only BITSTAMP I can sort of understand and prefer to chart what cash is doing. I was looking at the 5 minute because I wanted to have more resolution on wave (d) to get some idea if it was over or not so I can label my 4 hour; I'm not day trader
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ChartArt user100000
2 years ago
Ok, I used to mainly watch 1-minute and 3-minute charts and noticed that Bitstamp a) followed the price with a lag of like 2-3 minutes and that most times OKCoin was leading the price by 1 minute, not Bitfinex or Huobi or BTC China.
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ChartArt ChartArt
2 years ago
I also noticed that Bitstamp often made random price moves on the minute time frame which all other exchanges did not do or follow. Therefore Bitstamp and BTC-E are like their own ecosystem while Bitfinex and OKCoin are more closely linked and both most times create the trend.

So I actually understand the price trend MUCH better not looking at Bitstamp but using Bitfinex and OKCoin, which makes me wonder why EW works better on Bitstamp according to your observation (I do not use the EW method).
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user100000 ChartArt
2 years ago
Good observations. When I look at BITSTAMP I can always see some EW pattern pop out at me compared to other exchanges. I don't know why.
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JohnAward
2 years ago
Hi, guys. I'm a novice here, additionally I'm 18 (so, sorry for a possible stupid question), but why is there so much fuss about BTC? Why not buying stocks or options or bonds or REITs? 1 more quesiton: it seems that your prognosis failed. Why is that? It's really interesting to know. Cheers
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