target correction/update

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
using a semilog chart the target for wave 5 is about USD 28,000
semilog is more suited to bitcoin             market behavior rather than using arithmetic scale
How are things going with this chart? Are you still feeling on target?
When does this begin to play out? It has to start soon if we're supposed to hit 28k by March, right?
user100000 rivet.popper
don't worry, with all the chaos in this world we should go into bubble mode starting in feb. we only need 8 weeks of parabolic action to reach our target of 28K. also, there could be overnight "reset" of gold which will cause further choas
rivet.popper user100000
I'm intrigued. Please explain the gold "reset". And is it really possible that people will be willing to pay 28k for a coin when it was 200 USD one month before that? Are you expecting the average joe (noobs and suckers) to finally get in the game? And finally, how does the Winklevoss ETF come into this?
user100000 rivet.popper
the system is close to breaking. dollar strength is a sign they are losing control. they will have no choice but to hyperinflate the currency

all i know is the pattern is an expanding diagonal and the next move is up up up take us near the 1~3 connecting line around 28K
rivet.popper user100000
Have you ever seen Elliott Wave fail? It's hard to believe all these things converging at the same time, and that it happens in predictable patterns that you can accurately measure. Not saying EW doesn't have its uses, but as a sole indicator?
user100000 rivet.popper
i have only seen analysts failed attempt at interpreting the price action. of course you need liquid market with good volume/public particip otherwise elliott waves don't work

it's the only tool i know of that has predictive power
rivet.popper user100000
What can I say except I sure hope you're right! I am seriously long both BTC and LTC... You're not the only EW analyst saying we are going into a protracted bullish Wave 3 or 5, so here goes nuthin'...
Elliott Wave rule : Wave 4 can never overlap Wave 1.

How do you explain your count since you break this rule?
+1 Reply
user100000 Bitbuck
no rules broken. this is an expanding diagonal. overlap is expected. it's not a standard impulse wave
+2 Reply
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