user100000
Long

diagonal update

BITFINEX:BTCUSD   Bitcoin / Dollar
not much has changed. wave 4 is taking more time because of the recent low. i've relabeled the recent move up as an x-wave. wave 5 may start soon
Ok here we are on the 7th and nothing doing. No way is there time to do an a-b-c wave going up 150 bucks within 48 hours. Timing needs to be pushed forward to encompass the critical Greece news occurring on Feb 11th.
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jfun rivet.popper
this chart no longer says the 9th..
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Correct. The timing change wasn't mentioned in the caption so I didn't see the new date.
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Wow, good luck with this lol
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elliot is turning in his grave my friend.
give yourself to horse racing;)
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ChartArt Balancepumps
The problem of Elliot Wave is that is was invented in the 1920s before robotic trading and digitial currencies invented out of software code became a thing.

I think the basic ideas of Elliot Wave could are good, but the accuracy is not the best. Markets tend to stay irrational longer than Elliot Wave already show a turning point.
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I still think we hit bottom at 152. If that i the case, then EW will predict how we go up...
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MashuriClark rivet.popper
Sentiment is an important part of EW theory. Personally, I don't think sentiment is low enough yet (we're close though). When we get to the point where anyone who even suggests investing in bitcoin gets crucified, then it's time to buy.
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MashuriClark MashuriClark
From Prechter's site: https://www.elliottwave.com/freeupdates/archives/2015/01/15/A-Bitcoin-Warning-The-Digital-Currency-Takes-a-Tumble.aspx
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rivet.popper MashuriClark
Thanks for that link. That is what I mean by a constructive comment.
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