user100000
Long

diagonal update

BITFINEX:BTCUSD   Bitcoin / Dollar
730 11 7
I believe the first impulse wave of the zigzag has completed. I'm expecting a correction back to (iv) then another impulse wave up to 320 to complete wave a of 5
rivet.popper
2 years ago
From what I see here, you're expected about 407 by the 16th of the month. Then from there a correction and up to the ATH by the 27th?
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rivet.popper rivet.popper
2 years ago
My point is that's only about 10 days to pull back from 407 and then go almost straight up to your expected price of at least 4800 USD. Is that really possible?
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user100000 rivet.popper
2 years ago
you have a point, i guess there isn't enough time. by the 27th we should get a cycle high of lesser magnitude. my guess is 408. the 4800 target has to be pushed forward sometime in the future maybe by mid november
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rivet.popper user100000
2 years ago
Mid november is almost the end of 2015. Soooo all your previous wave counts and predictions for this March are now discarded?
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user100000 rivet.popper
2 years ago
nothing has changed. the expanding diagonal is the main pattern/count and is still intact since the low of 2.22 four years ago
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rivet.popper user100000
2 years ago
i don't understand. these wave counts are very general and seem to be retro-analyzed. luckily i'm just buy-and-hold so it doesn't matter at all to me. but i wanted EW for a general timeline of certain points just to plan my own future finances. if we have to keep moving the goalposts, i guess this isn't working as a predictive technique. i thank you for your work, in any case.
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user100000 rivet.popper
2 years ago
EWP is good at predicting price. not time. for time, we have to study cycles. i recommend the profit magic of stock transaction timing by JM Hurst which im trynig to read
+1 Reply
user100000 user100000
2 years ago
the 5th wave of this expanding diagonal has a target of 4800. it is a zigzag (two impulse waves). the 408 target coming on the 27th is wave (1) of the first impulse wave of the zigzag up to 4800. this is a bull market to 5K. i don't know why you are complaining. 166 to 4800......... 2800% percent increase is not good?
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rivet.popper user100000
2 years ago
i'm not complaining about the price, just the constant moving of the timeline. this would never work for trading, only for investing really. let's not forget though that your first bull market predictions had price destinations of 93K and 28Kn within the span of a few weeks, so you can imagine the "disappointment" you create when all of the sudden it's 5k and now at the end of the year.
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user100000 rivet.popper
2 years ago
it works on a smaller time frames too if you are active trader. once btc reach the 408 you could sell or hedge and buy again after the correction for the next move up

regarding the old prediction of 93K. that was before the market overlapped with wave 1 (market dipping below 259) so the pattern changed to an expanding diagonal instead of a regular impulse wave. i didn't expect this to happen
+1 Reply
rivet.popper user100000
2 years ago
Can you give me a max price prediction for the ATH then? I know you're trying to be "conservative" with 4800.
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