Eliot Waves Deja Vu?

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
What's up everyone it's the Crypto Watcher here and today we're going to talk about the ETH/USD.
So symmetrical its amazing!

Ok let cut the chase we need to look at the chart and separate it into two different times:

1. Purple Eliot wave –

Phase 0 – 1: Eleven days to the top.
2018 has just started everyone is so excited!

Phase 1 – 2: The meltdown
This phase was directly caused by the BTC FUD which has just started for example:
* US Treasury Secretary Addresses Anonymity, Sanctions and Digital Currencies
* Central Bank of Indonesia Warns Against All Cryptocurrency Use, Cites High Risk
* ⁠Cryptocurrency Markets Falling After Recent Rise, Most Coins In The Red
* Metropolitan Bank Halts All Cryptocurrency-Related Wire Transfers

All of this caused the first phase between 1 – 2 which took place at 13th of January till the 17th of January which happened.

Phase 2 – 3: Eleven days to the top.
We can see a market recovery which took eleven days and got us into the second peak of Eliot wave.

Phase 3 – 4: BTC is crashing and we are both on the same boat…
Another market crash which happened by the same reasons of phase 1-2.

Phase 4 – 5: If history repeats itself than why not?
as you can see every time we got into a new bottom it took us eleven days to return to the peak.

2. Orange Eliot wave –
With no further ado we got another Eliot wave which it takes us one day to get back to a new peak since it reached a new bottom.

Couple of things that you should notice them:
A. Every bottom in Eliot wave in this chart (no matter which Eliot wave we're looking on) is on a support line that can tell us that although the market is unstable we are still based on strong support line which at the past were a strong resistance lines.
B. Currently we are in a down trend that locked us in a downward Eliot waves we need to break it so we can start to see more bullish activity.
C. Every top is symmetrically to the one before.

History repeats itself and we are out of the FUD so everything is going to be alright.

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Your 1 is strongly violated by the peak of the 4th. This is not a valid count.

Your macro 5 wave count is also completely incorrect. The peak of your 1st wave is really the top of the macro 3rd wave. We are in the 4th wave corrections now, entering the overall B wave upwards in the ABC of the corrective set. In a way, your 5 wave EW count is pretty close to being on the C of the A down, but I think that may have been accidental.

Study up on EW before you post this stuff. On one hand you're completely wrong. But on another, you're misleading people who don't know anything about EW. "A little knowledge is a dangerous thing."
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