BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Burst bubbles usually stabilise at their long term trendline (red) and long term mean (blue).

Elliot wave count agrees.

Wave 2 was a sharp correction; therefore wave 4 should be flat.

Buy the dip becomes sell the bounce.
you should read Hodler's Handbook...
Nice elliot. But why do the volumes not matter on (3) ? Volumes create momentum for a Elliot Correction (ABC) like the ABC-Wave and volume on 2017-09-15 imho. Explain why (4) the sellers are going to dominate: correction elliot ABC (bulls win) versus the impulse wave 4. People should not apply any wave for the sake it. We need confirmations from other indicators as much as possible, as many as possible.
+1 Reply
I shared my analysis here:
Don't be foolish to think that the bitcoin would hit 20k or even 1 billion dollars.
Go to sleep
Agree, @TanayUK . We're going down, but it's funny. Every time I check BTC price, it seems to be at 8500....this last phase is excruciatingly slow. lol
This doesn't make sense. Firstly, Elliott Waves follow a 5-3-5. We are in correction phase which implies an A-B-C. There are 5 (1-2-3-4-5) sub-waves in correction phase A and correction phase C.

This count implies that we are still seeing correction phase A. Which means we will see an A-B-C up after your wave 5 and then followed by another 1-2-3-4-5 down which has to go much lower than your initial 5.
Jhawkfootball06 Jhawkfootball06
@Jhawkfootball06, You cannot just draw 5 waves and say "Elliott (two t's btw) wave count agrees" without understanding where and how to use them.
Oscarthedog Jhawkfootball06
@Jhawkfootball06, That is correct. First correction phase isn't over yet. Some take years to complete.
TanayUK Jhawkfootball06
@Jhawkfootball06, thanks for your comment, I thought basic sequence of Elliott impulse wave was 1-2-3-4-5?

Why isn't my count correct?
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out