BITCOIN - Re-evaluation Of The Waves = New Target Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ Aug 20, 2021 9:08 AM

Sometimes waves don't make sense, even after I have labelled them I sometimes get a sense that I may have overcomplicated the count.

This is why labelling waves is an evolving process.

We are all aware that Wave (C) of Wave B is much longer than Wave (A) but that doesn't mean it cannot be even longer.

Just follow the process and use your logic and consider these measurements as guidelines rather than rules.

Use a whole bunch of charts such as the US Dollar and other Cryptos to get a feel for the kind of moves we can expect.

Refer to the US Dollar idea I posted earlier for some explanation about this.

I have also posted other related ideas down below in related ideas so that you can see the evolution of the counts.

Don't be afraid to be wrong, just make sure you find out why you're wrong and correct the count in a timely manner.

Remember to use Disciplined Money Management Principles to ensure longevity as a trader.

If you don't know the long term pattern shouldn't you be doing your research[b/] instead of just following the crowd?

Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.

Comments

gz1968

⋅ Aug 20, 2021 10:10 AM

There has been a failure to recognize that the BTC bull run started 2015. Evidence.

AriasWave

⋅ Aug 20, 2021 10:19 AM

@gz1968, If you count from the absolute bottom of the BLX chart you can count 5 Waves up which completed in 2017. 2015 was Wave 4 and Wave 5 ended in 2017. Using the RSI on the weekly you can see that the strongest part of the move happened in 2013 which was a third-of-a-third wave. That's why I mainly focus on what is happening after the 2017 top. I have broken this down in detail before but I would have to dig it out. That might that a while but it's there somewhere in my profile. Mind you I have been wrong many times until I discovered the BLX chart. Back then I wasn't into Cryptos the way I am now so I was quite careless in my earlier predictions. My bad.