user100000
Long

Wave ((1)) ew count; 2011-2013 (Historical)

BITSTAMP:BTCUSD   Bitcoin / Dollar
695 7 4
Here is my daily ew count of the early years of BTC . It counts very well as an abc zigzag correction which further adds more weight to the proposed large expanding diagonal idea currently underway. The advance was capped at (a * Phi^6) or (a * 1.618^6). Wave c is 1794% of wave a
noob
+2 Reply
I still can not figure out if you really believe in what you're doing.
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user100000 RamaDeda
I put my money where my mouth is. One of the guidelines of the expanding diagonal is the 5th wave will end near the connecting line (once extended) of waves 1 and 3. I looked at the structure of waves ((1)), ((2)), ((3)) and ((4)) and come to the conclusion that each leg is an ABC correction; abc up abc down abc up abc down and so on. This pattern only fit an expanding diagonal. If you know of any other ew patterns please let me know
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FelixForster user100000
Do you know that in 2011 there was a high of $31? Can you please comment on how this would influence your count?
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-01-01zeg2013-02-01ztgSzm1g10zm2g25zv
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user100000 FelixForster
Yes, that would be supercycle wave I. It has no effect on my count
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FelixForster user100000
Could it also be that $31 was ((1)) and $1152 was ((5))? (not knowing too much about EW)
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user100000 FelixForster
Wave one and four should overlap in a diagonal. There was no overlap in your count
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