QUICK VERSION: After just completing a lengthy and detailed Elliot Wave Analysist on BTC has just, I do believe that Bitcoin has finished it's first Grand Super Cycle and is going into it's second super grand cycle move since its inception. I believe we are currently in the beginning of the first impulsive move up, of the new Super Grand Cycle. For me this is an incredibly bullish sign, at least until we get above 50k and start testing the ATHs.
Some details for now (until I can update):
I will update this later with more details, but am rushing to get it now, in case it will help anyone. The last couple of day's I have been doing an Elliot Wave TA on Bitcoin. Because I feel I have been having a very hard time getting a super accurate count, I wanted to do something MUCH more accurate than looking at a daily chart and throwing out some lines that look okay.
To complete this task and achieve the most accurate results possible, I decided to complete the TA on the entire timeframe for the BTC chart. Being worried that if I were to try and cut corners, I would only get results that were semi-close, I used the one hour chart to plot initially, and then went as low as the 1 min chart, and as high as the weekly chart to fine tune. For this analysis I literally went through and checked and plotted every single move including every single wave degree from subminutte up to Grand Super Cycle (that exist for BTC thus far), for the last year, and have gotten through everything except the subminute and waves for the ENTIRE REST of BTCs history, and as far as I have found, this chart matches from the sumbminute cycle to the Super Grand cycle without breaking any of the EW rules (as far as I know, if you see any PLEASE let me know).
For those who arent familar with the wave degrees, i will post quick excerpt:
Elliott Wave Theory Cycle Degree
"Elliott Wave degree is an Elliott Wave language to identify cycles so that analyst can identify position of a wave within overall progress of the market. Elliott acknowledged 9 degrees of waves from the Grand Super Cycle degree which is usually found in weekly and monthly time frame to Subminuette degree which is found in the hourly time frame. The scheme above is used in all of EWF’s charts."
The chart is obviously super cluttered, so most of the smaller wave patterns I had to hide. The photo I am currently posting is of the last year that
As far as my predictions, I am definitely bullish, but I recognize that is my opinion, however I feel like the chart is at minimum very very close to accurate, so I hope it can potentially help out both the bears and the bulls. Please let me know what your thoughts are. I will be back when I can to add more detail and more screenshots.
Zach
Some details for now (until I can update):
I will update this later with more details, but am rushing to get it now, in case it will help anyone. The last couple of day's I have been doing an Elliot Wave TA on Bitcoin. Because I feel I have been having a very hard time getting a super accurate count, I wanted to do something MUCH more accurate than looking at a daily chart and throwing out some lines that look okay.
To complete this task and achieve the most accurate results possible, I decided to complete the TA on the entire timeframe for the BTC chart. Being worried that if I were to try and cut corners, I would only get results that were semi-close, I used the one hour chart to plot initially, and then went as low as the 1 min chart, and as high as the weekly chart to fine tune. For this analysis I literally went through and checked and plotted every single move including every single wave degree from subminutte up to Grand Super Cycle (that exist for BTC thus far), for the last year, and have gotten through everything except the subminute and waves for the ENTIRE REST of BTCs history, and as far as I have found, this chart matches from the sumbminute cycle to the Super Grand cycle without breaking any of the EW rules (as far as I know, if you see any PLEASE let me know).
For those who arent familar with the wave degrees, i will post quick excerpt:
Elliott Wave Theory Cycle Degree
"Elliott Wave degree is an Elliott Wave language to identify cycles so that analyst can identify position of a wave within overall progress of the market. Elliott acknowledged 9 degrees of waves from the Grand Super Cycle degree which is usually found in weekly and monthly time frame to Subminuette degree which is found in the hourly time frame. The scheme above is used in all of EWF’s charts."
The chart is obviously super cluttered, so most of the smaller wave patterns I had to hide. The photo I am currently posting is of the last year that
As far as my predictions, I am definitely bullish, but I recognize that is my opinion, however I feel like the chart is at minimum very very close to accurate, so I hope it can potentially help out both the bears and the bulls. Please let me know what your thoughts are. I will be back when I can to add more detail and more screenshots.
Zach
Comment:
Until BTC breaks below $26,700 my target remains $33,900+
Comment:
IGNORE PREVIOUS COMMENT (full update below):
If you move the correction that began on after the first impulse (motive) wave up and stretch it to actually ending whatever BTC swings low to, as long as X>$25,401.05 as well as move the second impulse wave begin at whatever BTC swings low to, as long as X>$25,401.05, WE ARE STILL ON TRACK. That is not to say recent events are not concerning, but as far as EW goes this is not invalidated. At least not until BTC breaks below $25,401.05.
My next target remains $34k for BTC. If we break $25,401.05 this is invalidated.
If you move the correction that began on after the first impulse (motive) wave up and stretch it to actually ending whatever BTC swings low to, as long as X>$25,401.05 as well as move the second impulse wave begin at whatever BTC swings low to, as long as X>$25,401.05, WE ARE STILL ON TRACK. That is not to say recent events are not concerning, but as far as EW goes this is not invalidated. At least not until BTC breaks below $25,401.05.
My next target remains $34k for BTC. If we break $25,401.05 this is invalidated.