I copied the 2013 crash pattern squished to about 1/3 of the time
cut into 5 parts and changed the time of those parts a little bit but tried to keep the price action the same.
Below in green you can see the pattern without being cut, so you can see I didn't change it much.
This picture shows where the trendline is coming...
While the recent strong push made me question this idea, it was what I thought was most likely gonna play out.
The subwaves of the wave count shown here would be the smoothest in my opinion.
The way I trade is by having multiple ideas, and I go in a trade when those ideas either both show me movement in the same direction, or when I get confirmation that one idea...
I can't publish ideas with a smaller timeframe than 15min so I cant show you the smaller waves but these are the waves I have for this move up.
Maybe 3 is a bit more to the right, hard to tell will these sideway movements.
While I was confident to trade on the first 2 pumps I am not too confident in how this continues.
All I know is when this drops, it's gonna...
This first wave looks really artificial to me, the move up seems to be authentic but the way it moved and the way it corrected just somehow seems different than most of bitcoins price movement.
Maybe that is because the price dropped way below what it was supposed to be at 7300, maybe its manipulation, maybe I am just dumb and this is an authentic move?
I have seen some interest in my ideas so I thought I will update them a bit.
This is the most likely Elliott wave pattern I see, but especially on the higher timeframes, they get a little sketchy.
The run-up from 1k to 20k should have wave 5 being completed at 20k
It IS possible that the whole thing has an extended wave 5 and this crash isn't gonna be as bad as I...
I'm scalping so I don't really care about making precise calls about the value or timeframe
Only thing I wanna know is it going up or down in the next 15min.
But this is the pattern I would expect in the next few days.
I would expect a small peak in 3 days and a bottom in 6 days
peak at around 11k bottom around 9k
If we are going up in the next 2 hours which I...
the inverse head and shoulders we just formed and are just about to break the neckline target would be 8.3k
I spend 20 hours drawing elliot waves from 5min chart to 4hour target until I was happy with it target would be around 8.3k
a nice fib level at 8.3k
there we should see a nice bounce and hopefully resume with our bullrun