Here, i have just shared an idea of bitcoin in which it has possibly end the wave 4-5 and also has completed wave 5-A. Now, it is assumed on to be at wave AB (up) and then will go on Wave BC (down). The chart is describe by fibonacci levels. Please see and share your views. And finally Merry Christmas if this chart is successful.. :)
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B wave was not that above.. And now, waiting for WAVE C to end.....
At a trading conference, Alexander Elder made it a point to mention that Ralph N. Elliott died a relatively poor man. Therefore I don't think his wave theory is sound.
ManipulatedAnalyst
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@DannyK_, LOL, it may be true.. But if he had not come up with this theory, then many other chartist and theorist would not come up with this..
BTW, ralph nelson never traded that much, he was only a research scholars. moreover, many died poor, but it doesn't mean that their theory is useless.
Also, i hate elliott waves, because everyone pictures them differently, and it is never correct for everyone, but it just helps to find out the patterns.
Merry Christmas
DannyK_
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@worldstockmarket, The problem is exactly what you pointed out - everyone sees those waves differently. For person A, it may be wave A, but for person B, it may be wave (a).
Merry Christmas and happier new year to you as well.
fran_sal
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Hope we are correct on this one. Bring back the positive energy!
ManipulatedAnalyst
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@fran_sal, i hope that it works.. Secret santa gift for to buy BTC at small value. Maybe.
Listen to everyone, but do your own analysis.
And always remember, watch for confirmation and keep a good SL.
Merry Christmas.. :)
fran_sal
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@worldstockmarket, I did, I checked your graph against the principles of the Elliot Wave Theory, it matched! I'm just wondering where will B take us? Around 15,000-17,000 perhaps? But probably not around beyond 17,000?
ManipulatedAnalyst
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@fran_sal, In my opinion, the A wave is near wave 4, so thats the reason, i put the B wave near 5. But personally, i believe maximum 17k.