BITSTAMP:BTCUSD   Bitcoin / Dollar
448 19 1
wave 5 is almost done or already over
missing data/time make it more difficult to use trading view
Why are you so convinced that the bear market is over and that wave 5 is going to be truncated? Is it not possible that wave 5 could continue lower?
+1 Reply
user100000 MoonTrader
because wave 5 looks like an ending diagonal. rules are the 5th wave must be shortest wave so there isn't much room for more downside
i don't know how its possible to continue lower if that is an ending diagonal (if one is following ewp)
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user100000 user100000
also the larger degree wave 3 (275) was extended so the probability of wave 5 truncation is very high
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user100000 user100000
the price action of wave 5 (dec 24+) is very overlappy. wave 4 moving into 1 territory and lots of three wave structures everywere. it doesn't have a feel or look of a real impulse wave (compare it to 3). only one wave describe that action: ending diagonal. there are limits to how far the last 5th wave may travel (i believe 100% of 3 is maximum it is allowed to move). it touched .768 of 3 and i believe that's the end of this diagonal.......... all 5 waves are "in". what next? up! there is nothing else left ....ABC 1year+ correction is over............... count down begins to ATH by march 27
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What ATH means?
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bhsl AndreyDrogal
All Time High
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Thanks!
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what now? how do we relabel those to make bulling again?
+1 Reply
user100000 JavaHut
that's it! did you notice the market did not exceed 100% of 3. that would be 292 if i remember correctly
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MoonTrader user100000
I don't know.... it really doesn't seem like a bottom here.
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user100000 MoonTrader
of course the market isn't going to sound the alarm bells. that was an ending diagonal. if we follow the rules we can know in advance what the market will not do ie exceed the length of the third wave of ED. so we can plan ahead and buy WITH FULL FORCE!

here is a nice sight to know rules of ewp. check out the ending diagonal section

http://proelliottwave.com/free-elliott-wave-resources/elliott-wave-principle-basics/
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user100000 user100000
there was a throwover. wave 5 moving beyond the 1-3 lower trendline
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user100000 JavaHut
sit back and relax. watch the bears panic
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MoonTrader user100000
Interesting perspective. If you're right, I might have to start learning EWs.
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MoonTrader user100000
So what do you say now?
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vortexspaces MoonTrader
Bulls are dead xD
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user100000 MoonTrader
my count was wrong. there was no triangle
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How about such elliot count -
Just messing around
?
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user100000 vortexspaces
i have wave II at 45
i believe we are in a wave III super cycle starting from low of 2.22. it is a trending wave ie. will bounce between the upper and lower channels progressing higher and higher
we haven't yet reached wave III (my guess is 7K-10K)
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